For Disney’s board, a meticulous CEO handoff — not ‘a rigged game’ — was the imperative

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As a total cinema obsessive, you couldn’t be in Hollywood without constantly hearing people wonder if Bob would sign another contract. It was always the question on everyone’s lips!

Disney’s board originally planned for Bob Iger to retire in 2015. However, they repeatedly extended his contract. Eventually, after he had already retired in 2021, they brought him back in 2022 when the previous attempt to find a successor didn’t go well.

Watching Disney try to figure out who should lead the company has always been a bit of a rollercoaster. It’s been filled with starts and stops, and it seems like their big-name CEOs never really want to step down. There have even been whispers over the years that the search for a new leader wasn’t exactly fair. I remember hearing about Meg Whitman, the former head of eBay and Hewlett-Packard, being considered for the job a while back, but she ended up pulling out, and people speculated that the decision had already been made behind the scenes.

Disney’s directors decided to give Bob Iger, a seasoned executive from ABC who had worked for years under Michael Eisner, an opportunity to lead the company.

Given Disney’s complex past, the company’s board knew it needed a carefully planned leadership change. Iger, at 74, was preparing to step down, and the search for his replacement would be closely watched.

Disney Chairman James Gorman explained to The Times that they needed to be transparent about their decision-making process, which had previously been kept private. He said they wanted to avoid any appearance of unfairness or a pre-determined outcome.

Hollywood Inc.

Following his retirement from Morgan Stanley, James Gorman was looking for a significant new undertaking, and that turned out to be overseeing the process of choosing Disney’s next CEO.

Disney’s board of directors has chosen Josh D’Amaro, the current head of Disney’s parks, to become the new CEO on March 18th, following the company’s shareholder meeting. This change signals the end of Bob Iger’s long and influential career in Hollywood, where he’s been a major figure for over two decades.

It was a long process, but after two years of preparation, they finally chose D’Amaro. When Bob Chapek was let go in November 2022, the board said that Iger would come back as CEO, but only for two years. I was really curious to see who would take over next!

Disney had experienced several departures of key executives, leaving a shortage of leaders ready to take over. The board of directors admitted they needed more time to prepare for a leadership transition, so they extended Bob Iger’s contract once more, this time until December 2026.

Jamie Gorman, previously the head of Morgan Stanley, joined Disney’s board in late 2024. He became chairman in January 2025, and the company then began seriously planning for the next CEO. This time, the board took a different approach than in 2020, when Bob Iger led the search for Bob Chapek. Instead, they created a committee specifically for succession planning, including leaders with experience as CEOs from various companies.

The committee was chaired by Gorman and also included prominent leaders like Mary Barra, CEO of General Motors, Calvin McDonald, the former CEO of Lululemon Athletica, and Sir Jeremy Darroch, who previously led Sky broadcasting in Britain.

Hollywood Inc.

A few months ago, Bob Iger seemed to be having a difficult time after returning as CEO of Disney. Now, he’s taking a more proactive approach as the company deals with challenges from within its board of directors.

The initial search for candidates started with around 100 people, including suggestions from the firm Heidrick & Struggles, according to Gorman. They gradually reduced that number, eventually focusing on a smaller group of 30, and then a select few. The team also interviewed some people from outside the company.

Gorman explained they were exploring external options, but noted it’s generally challenging for any company to look outside for leadership. This usually only happens during unexpected situations, like when a CEO suddenly leaves due to health issues or another crisis.

He explained that it’s a mistake to bring someone from a manufacturing or industrial background into a media company. The skills and experience are just too different for a smooth transition.

Disney, a company with over a century of history, has a unique culture. It still honors its founder, Walt Disney, and encourages its employees—called “cast members”—to protect and uphold the company’s beloved characters and brands.

Any outside pick would have been a risky bet.

Hollywood Inc.

Iger admitted that returning as CEO presented significant challenges, stating the company had many issues to address.

Disney was considering four leaders – Ken D’Amaro, Dana Walden (who leads television and streaming), Alan Bergman (who heads the movie division), and Jimmy Pitaro, Chairman of ESPN – as potential successors for a top position.

For months, the board carefully evaluated both internal and external candidates for the position. Those candidates presented their ideas for Disney’s future, received guidance from Bob Iger, and spent considerable time meeting with the succession committee, including Mark Gorman, and the entire board.

Candidates were asked about their ideas for the future of the company, including their thoughts on teamwork and the company’s culture.

Gorman explained they needed to be sure their chosen candidate could outperform everyone else. Their team performed exceptionally well under pressure. While Disney’s executives had an advantage due to their familiarity with the company’s unique culture, that wasn’t the only reason for their success.

“They were capable and they were ready,” Gorman said.

Hollywood Inc.

Okay, so Disney’s facing a big question: who’s going to take the reins from Bob Iger? From where I’m sitting, it looks like they’re keeping things in-house. The most likely contenders are the people already running the major divisions – the heads of film, television, sports, and the parks. It seems they’re looking for someone who already knows the Disney world inside and out, and honestly, that makes a lot of sense.

I’ve noticed the Disney board really seems to trust Bob D’Amaro, and it’s easy to see why. He’s been with the company for 28 years, starting way back in accounting at Disneyland! More recently, he’s been leading their parks and experiences division for the last six years, and honestly, that division is now the biggest part of Disney’s business, especially with traditional TV struggling. It’s a testament to his leadership, really.

The board created a new position for veteran television executive Walden, 61, naming her president and chief creative officer. This makes her the first woman to hold the title of president at Disney.

Gorman said Walden, 61, was impressive.

As a film buff, I was really struck by what Gorman said about this person – she’s clearly a powerhouse. He described her as a strong, decisive leader with a real talent for creativity. Apparently, she’s been working brilliantly with Alan Bergman, and their goal is to inject that same creative energy into everything the company does, globally. It’s exciting to hear they’re prioritizing innovative thinking across the board.

According to Gorman, a new CEO thrives when supported by a capable team, and he feels fortunate to have such a team in place.

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2026-02-04 23:32