Bob Iger Plans to Step Down as Disney CEO Before Contract Ends, WSJ Reports

Bob Iger plans to step down as Disney CEO before his contract expires on December 31 2026, according to a new report from The Wall Street Journal.

The Disney board of directors will meet next week at the company’s Burbank headquarters, where they are expected to vote on Iger’s successor, the WSJ reports.

Iger Ready to Move On?

According to the WSJ, Iger has told associates in recent months that he is ready to step back from the demands of running Disney. The report cites frustration over conflicts at ABC, including the brief suspension of late-night host Jimmy Kimmel.

People familiar with Iger’s thinking told the WSJ he wants to spend more time on personal interests and working with his wife Willow Bay, dean of the USC Annenberg School for Communication and Journalism. Iger and Bay purchased Angel City FC, a women’s soccer team, in 2024.

Transition Timeline

The exact timing of Iger’s departure has not been finalized and could change, according to the WSJ. The report indicates Iger will likely remain CEO for several months after the company announces his successor to provide mentoring. He may retain a board position or other role at Disney after the transition.

Iger told one associate he wanted to give his successor a “fresh start” rather than staying until the end of the year, which he felt would make the transition more difficult, the WSJ reports.

Two Finalists for CEO

According to the WSJ, the CEO race has narrowed to two internal candidates:

• Josh D’Amaro – Chairman of Experiences, overseeing theme parks, consumer products, and videogames
• Dana Walden – Entertainment co-chairman and veteran television executive

Both executives presented their visions for Disney’s future to the board in August, as previously reported by the WSJ. Many believe D’Amaro is the front runner, according to the report.

Carefully Managed Succession

Disney’s board, led by former Morgan Stanley CEO James Gorman, has kept the succession process tightly controlled. This approach differs from 2020, when Iger served as board chairman and drove the decision to name Bob Chapek as his successor.

That transition proved problematic. Iger stepped down as CEO in February 2020 after 15 years, with Chapek taking over. Iger remained as executive chairman to advise Chapek, but the two clashed frequently during the pandemic. The board ousted Chapek in November 2022 and brought Iger back for a second stint as CEO.

In a recent public filing, Disney’s board said it would announce its decision in the current quarter. The filing noted that internal candidates are receiving mentoring from Iger and external coaches.