Disney’s CEO succession: A timeline of key events

by

This week, The Walt Disney Company announced that Josh D’Amaro, a long-time executive with their theme parks, will be the new CEO.

Josh D’Amaro is taking over from Bob Iger, who plans to retire on December 31st after almost twenty years with the company as his contract ends.

Hollywood Inc.

Okay, so big news for Disney! I’ve been following this closely, and it’s official: Josh D’Amaro is taking over as CEO from Bob Iger. He’s been with Disney since ’98, which is awesome to see someone who’s really put in the time get the top job. Apparently, he beat out three other people inside the company for the position, which just shows how much faith they have in him. It’s a huge deal!

Who will lead Disney in the future has been a difficult question – and a major topic of discussion throughout Hollywood lately.

Here’s a look at key developments in the succession drama:

Feb. 25, 2020: Chapek named CEO

Disney has announced that Bob Chapek will be the new CEO, replacing Bob Iger. Chapek has worked at Disney for 27 years, most recently leading their successful parks and consumer products divisions.

Bob Chapek, age 60, was considered a likely candidate to lead Disney, alongside other executives like Kevin Mayer, who headed Disney’s streaming services and successfully launched Disney+.

Hollywood Inc.

Disney unexpectedly fired its CEO, Bob Chapek, and reinstated Bob Iger as the company’s leader, a move that surprised many in the entertainment world.

However, the announcement had a surprising detail: Iger wasn’t actually leaving Disney immediately. He would become executive chairman, focusing on the company’s creative side and helping with the change in leadership until his contract ended on December 31, 2021.

Nov. 20, 2022: Chapek fired, Iger returns

I’m honestly relieved to hear Disney’s board made a change. Bob Chapek just wasn’t working out after less than three years, and now they’ve asked Bob Iger to step back in as CEO for another two years – thankfully! It feels like things are getting back on track, and I’m excited to see what Iger can do with another chance.

The surprising news followed a pattern of errors and poor decisions made by Chapek, who was chosen by Iger to be his replacement, leading many to doubt his ability to lead.

Hollywood Inc.

Disney’s board initially extended Bob Chapek’s contract by three years in June. However, just five months later, they surprisingly removed him and brought back Bob Iger as CEO. What led to this quick change?

Company directors were reportedly growing frustrated with the company’s poor financial results and the changes Bob Chapek implemented at Disney.

According to a Disney expert who wasn’t allowed to speak on the record, the board felt the company was losing its core identity.

July 12, 2023: Board extends Iger’s contract amid challenges

Disney’s board of directors has asked Bob Iger to continue as CEO through the end of 2026, pushing back his planned retirement date again.

This decision acknowledges the significant difficulties the company is currently facing. These include underperforming animated films, declining subscriptions at ESPN, and ongoing disagreements with conservatives in Florida regarding political and cultural issues.

Bob Iger quickly began reducing expenses by laying off thousands of employees. He also instructed the company to make fewer movies and TV shows, prioritizing quality over quantity.

Hollywood Inc.

The Burbank company is facing challenges after heavily investing in streaming. Its stock price has been declining, investors are becoming impatient, and its studios are feeling the strain.

Oct. 21, 2024: Board taps Gorman to lead succession

Following the issues with Bob Chapek’s leadership, Disney is now looking to James Gorman, known for his successful experience guiding transitions at Morgan Stanley.

Gorman has been appointed the new chairman of the company’s board, succeeding Mark Parker, the CEO of Nike, who is stepping down after serving for nine years.

Responding to concerns from investors like Nelson Peltz, Disney has announced it will choose a new CEO by the beginning of 2026.

February 3, 2026: Disney picks Josh D’Amaro as new CEO

Disney has chosen Josh D’Amaro as its new president. The 54-year-old D’Amaro was preferred by many on Wall Street and secured the position over three other executives within the company.

With 28 years at Disney, the popular executive was a strong contender thanks to his thorough understanding of the company and his proven ability to expand the highly successful theme park business, currently undergoing a massive $60 billion, decade-long growth plan for parks and cruise lines. Investors also favored him, which gave him an additional advantage.

Dana Walden has been promoted to President and Chief Creative Officer at Disney Entertainment, taking on an expanded role within the company.

Read More

2026-02-03 18:31