Bob Iger revived Disney, but challenges remain

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After two decades and two stints as Walt Disney Co. boss, Bob Iger finally is hanging up the reins.

Disney has chosen Josh D’Amaro, currently head of its parks division, to become the next CEO. He will take over from Bob Iger on March 18th at the company’s yearly investor meeting. Iger will continue to help the company as an advisor and board member until he retires in December.

The changing of the guard atop one of America’s iconic companies marks the end of an era.

History will likely see Bob Iger as a transformative leader who revitalized Disney. He did this by acquiring successful companies, expanding Disney’s global reach, and bravely entering the competitive streaming market with Disney+ and ESPN+ as viewers moved away from traditional television.

Bob Iger, age 74, is a highly admired and motivating leader in the Hollywood studio system. He’s widely known and simply called “Bob” by those in the industry.

According to Disney Chairman James Gorman, Bob Iger’s long career at the company can be divided into two distinct periods, which he refers to as ‘Bob 1’ and ‘Bob 2’.

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As a lifelong Disney fan, I was really interested to hear the news about the CEO succession. Apparently, Bob Iger is stepping down, and the role is going to Alan D’Amaro, who’s been with the company since 1998. From what I understand, he really earned it, beating out three other executives who were also in the running. It’s exciting to see someone who’s been part of the Disney family for so long take the helm!

When Iger became CEO in 2005, Disney experienced significant expansion. He oversaw the purchase of major companies like Pixar, Marvel, and Lucasfilm (the studio behind “Star Wars”), bringing popular franchises and characters – including Captain Marvel, Baby Yoda, and Woody from “Toy Story” – to both movies and Disney’s theme parks.

“Bob steadied the company and built it out,” Gorman said. “He created an absolute powerhouse.”

As a lifelong Disney fan, I’ve always admired how Bob Iger tried to protect the heart of what made Disney special – things like ABC and ESPN, but especially that incredible spirit of imagination Walt Disney himself brought to life so long ago. He clearly cherished those classic animated characters – Mickey, Goofy, Pooh, and newer favorites like Moana – and wanted to keep that magic alive.

According to a statement from the board, Bob Iger’s time as leader has been marked by significant expansion, a constant focus on creative and innovative quality, and strong management of the company. The board expressed its sincere thanks to Iger for his exceptional leadership and commitment to Disney.

Former CEO Michael Eisner told The Times that Iger has “succeeded masterfully” at every turn.

According to Michael Eisner, Bob Iger consistently achieved remarkable results throughout his career at ABC Sports, ABC Television, and then Disney. Eisner explained that Iger’s consistent success led to his selection as Disney’s CEO – a position where he truly excelled. Eisner described Iger’s career as an incredible achievement.

Bob Iger initially finished his time as CEO in February 2020 and fully retired from the company almost two years later.

However, the transition of leadership didn’t go well and turned out to be a major mistake for Iger, something he’s been actively trying to fix.

As a critic, I watched Bob Chapek take the helm at Disney, and honestly, he never quite seemed to fill the shoes of his predecessors. He didn’t have that certain creative spark, and it felt like he didn’t fully have the backing of the people inside the company who really mattered. Then, almost immediately, he was hit with a massive challenge: COVID-19. Suddenly, Disney’s biggest money-makers – the theme parks, movie theaters, and the sports programming on ABC and ESPN – all had to shut down. It was a tough start, to say the least.

Investors quickly became pessimistic about the billions of dollars Disney and other established entertainment companies were losing in their efforts to compete with Netflix in the streaming market. As a result, Disney’s stock price dropped.

Bob Chapek also found himself in a public disagreement with Florida Governor Ron DeSantis, who criticized Disney for being too focused on social issues. This conflict damaged Disney’s reputation and made it harder for the company to appeal to a broad audience, regardless of their political beliefs.

In November 2022, Disney’s board asked Bob Iger to return as CEO to address growing dissatisfaction among top executives and reassure investors.

During a recent earnings call, Bob Iger admitted that when he returned three years ago, the company needed significant improvements. However, he emphasized that leading a company isn’t just about solving current problems—it’s also about building for the future.

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Following his retirement from Morgan Stanley, James Gorman was looking for a significant new undertaking, and that turned out to be guiding Disney through the process of finding its next CEO.

Finding a replacement for Iger, who was in his early 70s, quickly became the main focus for Disney’s leadership. However, the company had lost several key executives and was spending too much money, making the search even more challenging.

Iger reorganized Disney, resulting in thousands of job cuts. He also empowered division leaders with financial responsibility, encouraging them to take ownership and be accountable for their results.

When Bob Iger returned to Disney headquarters in Burbank in 2022, his new successor, Jeff D’Amaro, presented him with a comprehensive 250-page report. This binder contained detailed information about every part of D’Amaro’s large parks and experiences business.

The following day, Iger showed up at D’Amaro’s office, binder in hand.

During a conference call with investors last year, Disney’s D’Amaro shared that Iger pointed out the company’s potential for expansion. Iger reportedly noted they have ample space for growth at their parks worldwide, along with a wealth of stories and a dedicated fanbase, as D’Amaro recalled.

This initial move paved the way for Disney’s current plan to invest $60 billion over the next 10 years. The investment will expand their theme parks, resorts, and cruise lines, and also launch a new project in Abu Dhabi. Josh D’Amaro is leading this effort, which aims to strengthen Disney’s position as a leader in the entertainment industry. This goal is especially important for Disney as revenue from traditional TV and cable declines.

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Disney is intensifying its efforts to prevent Nelson Peltz from joining its board, arguing that his addition would be harmful to the company. They’ve warned shareholders about the potential negative impact of adding the activist investor.

Iger’s second stint as CEO wasn’t nearly as fun as the first.

He found himself in a heated battle with two wealthy investors who questioned his leadership, future plans for the company, and Disney’s $71 billion acquisition of 21st Century Fox from Rupert Murdoch in 2019. This purchase was widely debated, with many criticizing the high cost. While Disney lessened the financial impact by selling off some properties, the deal still left the company with a lot of debt right before the COVID-19 pandemic began.

When Disney acquired 21st Century Fox, they gained ownership of many popular franchises, such as “Avatar,” “Deadpool,” and “The Simpsons.”

As a big Disney fan, I was really glad to see Bob Iger successfully fend off that recent challenge to his leadership. And this week, he was back talking about the Fox acquisition – a move that was brilliant, honestly, because it brought Hulu, National Geographic, and FX all under the Disney umbrella. It’s made a huge difference for their streaming lineup!

Iger mentioned the Fox acquisition was remarkably forward-thinking, especially when considering the intense competition happening right now for Warner Bros. Discovery.

I’ve always been impressed by how Disney strategically expanded its reach. Bob Iger explained they intentionally sought out more creative properties, and the acquisition they made really enabled that. What’s amazing to me is how far Disney’s influence has grown – it’s not just about movies anymore! They’ve successfully brought those beloved stories to life in theme parks and so many other areas, making the company’s overall impact wider and more varied than ever before.

Doug Creutz, a media analyst at TD Cowen, continues to believe the Fox acquisition wasn’t a good deal. In a recent report, he stated that the multiples paid for Warner don’t justify the claim that the DIS-FOX deal was unique in destroying value, pointing out that many similar media acquisitions have performed poorly.

Iger is credited with astutely managing Disney’s image and corporate culture.

In 2023, he played a key role in ending the major work stoppages in Hollywood by successfully negotiating agreements with both the Writers Guild of America and the actors’ union, SAG-AFTRA.

He has also sought to distance the company from divisive politics, albeit with limited success.

Disney reached a $16 million settlement with former President Trump to resolve a disagreement over comments made by ABC News anchor George Stephanopoulos shortly after the 2020 election. However, some free speech groups criticized Disney, claiming the company gave in to pressure from Trump.

In September, Iger successfully navigated a political controversy sparked by comments made by ABC’s Jimmy Kimmel after activist Charlie Kirk’s death. The comments had angered conservatives, including the chairman of the Federal Communications Commission, who was appointed by Trump.

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For a hundred years, the Walt Disney Company has dramatically changed the entertainment industry, from creating popular theme parks to pioneering animation and children’s television.

According to Iger, Disney decided to bring Kimmel back to late night television on its own, without being influenced by political pressure from either Democrats or Republicans.

Enormous challenges remain for D’Amaro, the incoming CEO.

As a huge Disney fan, I’m really counting on Bob Iger and his team – especially Dana Walden, who’s in charge of creative stuff – to make sure all the movies and shows still feel magical and live up to Disney’s high standards. Plus, it’s so important that Disney+, Hulu, and ESPN+ really stand out from all the other streaming services out there. I want them to keep being the best!

Disney and Pixar, known for their amazing animated films, haven’t had as many consistent blockbuster hits lately, except when it comes to sequels. Both “Zootopia 2” and the 2024 Pixar release, “Inside Out 2,” have been huge successes. “Zootopia 2” is now the highest-grossing animated film ever in the U.S., earning over $1.7 billion worldwide, and “Inside Out 2” has brought in almost $1.7 billion globally.

To keep ESPN thriving, the company needs to continue its expensive sports agreements, like the one with the NFL. This week, Disney and the NFL completed an agreement where the NFL will own 10% of ESPN.

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Okay, so Disney’s Bob Iger just dropped a big bomb – a $1.5 billion investment in Epic Games, the company behind ‘Fortnite’. Honestly, it feels like more than just a business move. It’s happening while he’s fending off some pressure from activist investors, and it really makes you wonder what Disney’s long-term strategy is. This could be a huge signal about where the company sees its future heading – and it’s definitely something I’ll be watching closely.

With traditional TV viewership aging, Disney needs to consider how important the ABC network remains. It’s a network where Iger began his career over 50 years ago, earning just $150 a week working behind the scenes.

Investors are also hoping D’Amaro will help improve Disney’s stock performance, which has dropped 9% this year.

According to Gorman, the stock price doesn’t currently show the full impact of Iger’s work, but he believes it will eventually, and Iger deserves recognition for his achievements.

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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.

On Tuesday, D’Amaro thanked Disney’s board of directors for giving him the opportunity to lead a company he cares deeply about, and that is loved by millions globally.

D’Amaro also thanked Bob Iger for his guidance, support as a friend, and the significant influence he’s had as a leader.

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A timeline of key developments in the succession drama that has enveloped Disney in recent years.

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2026-02-04 14:04