Walt Disney, one of the worlds most beloved entertainment companies, announced this week it plans to select a successor to take over from Bob Iger next year early 2026. This after successive succession changes and problems at the iconic “House of Mouse.” Long-serving Chief Executive Bob Iger has been quite a rich tenure with Disney, but the company believes now is the time to bring on fresh faces.

A New Seat at Disney’s Board
To help nudge this mega decision along, Disney has selected James Gorman, the former head of Morgan Stanley, to sit in as its new chair at the board. After stepping down from 14 years of tenure serving Morgan Stanley as its head, Gorman will join the company in January 2025. Under Gorman’s leadership, Morgan Stanley has become one of the most powerful players in wealth management, and now, Disney is hoping that he might be what his experience can guide them to find as perfect leadership for their future.

Bob Iger, who had stepped down as Disney’s CEO in 2020, was recalled by the board in 2022 to lead the company again. The first successor, Bob Chapek, performed poorly in leadership and caused tough times for Disney. Investors were not happy with the state of the company, and several bad earnings reports led the board to again replace Chapek with Iger. Now with Iger’s contract due to expire in December 2026, Disney is locked-in to having the right person in place before then.

Key Leadership – Gorman
James Gorman assumes an important position as he heads the committee to find Iger’s successor. He is not the first man of his time to be in such an environment, as he had previously made sure that a successor for himself took over at Morgan Stanley. He had passed on the CEO position to Ted Pick and is bringing the same skill to Disney. Gorman’s task would be one of ensuring a smooth, non-disruptive transition to the next Disney CEO, which is something investors, as well as fans, are closely watching.

Gorman said in a statement, “One of our most important work streams is electing a new CEO, and we expect to announce that early next year. This will ensure that we have enough time so everything goes well before the end of Bob Iger’s contract.”

Disney Long Search for a CEO
The world saw the legendary time of Bob Iger’s tenure as the CEO of Disney. He played a huge role in the expansion of Disney’s empire, securing major acquisitions such as Pixar, Marvel, and Star Wars. Thanks to these moves, Disney’s reach in the media world has grown bigger than ever. However, retirement five times was delayed as the company faced challenges finding a strong successor. Iger wanted to retire, then retire again, only keeping extending his stay just in an effort to guide the company through its ups and downs.

Iger had come out of retirement for just two years, but as things have unfolded, it has stretched to 2026. His leadership and experience have been invaluable, but the company knows it’s time to find the next person to carry the torch.

New Faces on the Confrontation for CEO
Disney’s board has been working behind the scenes. They have reportedly considered candidates to replace Iger and both sources within and without Disney. Among the top candidates, four Disney executives stand out with their strengths as listed below:.

The leading contender is Dana Walden, co-chair of Disney Entertainment. Known for her creative vision as well as huge success in television, Walden has dedicated enough time and energy to form relationships with many of the finest minds in the business. Her success rate in both financially and critically steering hits is why Walden will be the perfect CEO candidate.

Another insider candidate is Josh D’Amaro, the chair of Disney Experiences. With a lively and charismatic style of leadership, D’Amaro has managed Disney’s theme parks, one of the greatest cash cows for the company. With an established close relationship that he has built up with the core values of Disney, his people look up to him as a leader who can step into the top position.

For instance, ESPN chair is also thrown into the ring: Jimmy Pitaro. He leads ESPN’s digital transformation, guiding this sports network into the future. He has a likable personality and proven leadership skills, making him another viable candidate.

Next in line is Alan Bergman, Disney Entertainment co-chair. Bergman is a Disney lifer; he managed releases such as The Lion King, and, of course, blockbusters like the aforementioned. With this deep knowledge in film and track record, Bergman is sure on the list.

New era for Disney
The board of Disney discusses its future leadership at every meeting in 2024. The company realizes that choosing the right CEO is one of the top priorities and will influence its future for many years to come. Chair of the board, Mark Parker, praised Gorman for being the ideal person to run this crucial search: “James brings immense experience and will expertly lead our efforts in finding a new CEO, which remains a top focus for the board.”

Disney then confides in Gorman that while he leads the charge, search for a new CEO would be smooth and pave the way for a bright future. As this continues to be done inside and outside of company walls, investors, employees, and fans are all arduously waiting to find out who will take the helm of one of the world’s most magical companies.

Bob Iger’s legacy is already etched in stone, but this is looking at someone who will ensure that legacy and, at the same time, bring in new ideas. The search for Iger’s successor has many things on the line for the business world.