Disney board to vote on new CEO next week as Iger eyes departure, per WSJ

Investing.com -- Walt Disney Company (NYSE: DIS) Chief Executive Bob Iger has told associates that he plans to step down as CEO and pull back from daily management before the Dec. 31 end of his contract, according to reporting from The Wall Street Journal citing people familiar with the matter. The entertainment giant’s board of directors is planning to meet next week at its Burbank headquarters to vote on a successor.

Iger has expressed readiness to move on from the daily grind and was reportedly frustrated by recent internal conflicts regarding the brief suspension of late-night host Jimmy Kimmel. He told one associate that he wanted to give his successor a “fresh start” and that lingering until the end of the year would hinder the new leader, according to The Journal's report.

Beyond corporate strategy, the chief executive reportedly intends to spend more time sailing his new superyacht, the Aquarius, and working with his wife, Willow Bay, on their women’s soccer team. He has signaled that the timing of his final exit remains fluid and could change based on the needs of the transition.

The race for the top job has reportedly narrowed to two internal frontrunners: Disney Experiences chairman Josh D’Amaro and entertainment co-chairman Dana Walden. According to Kalshi prediction markets, D’Amaro currently holds an 86% chance of being named the next CEO, compared to 16% for Walden.

Disney’s board, led by former Morgan Stanley CEO James Gorman, has kept the selection process under tight wraps to avoid the chaos that followed Iger’s first departure in 2020. During that period, Iger’s hand-picked successor Bob Chapek clashed frequently with his predecessor, who headed the board at the time, before being ousted in 2022.

The company stated in a recent filing that internal candidates are currently receiving mentoring from Iger and external coaches ahead of the board's final decision. Iger is expected to remain in his post for several months after the announcement to ensure a smooth handoff to the new leadership.

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