Disney CEO Bob Iger returned to the company in late 2022. He was only supposed to stay for a couple of years until a successor was found and trained. Then, a few months later, he got a contract extension til 2026. Frankly, we haven’t been hearing much about a succession plan until “activist investors” started to question it. Now, suddenly, there are four front runners for the job, but they are the same ones that were speculated before.
Bloomberg reports that sources say there are four internal candidates for the Disney CEO position. They are the same ones that have been speculated on over the past year and a half. However, each one has a strength in one of Disney’s core businesses.
Who are they?
Co-Chairman of Disney Entertainment, Dana Walden.
Dana Walden shares chairman duties with Alan Bergman. Before coming to Disney, she was CEO of Fox Television Group. She came to Disney when they acquired Fox in 2017.
Her strength is in television and streaming.
Co-Chairman of Disney Entertainment, Alan Bergman.
Of course, the second person to be considered is the other chairman of Disney Entertainment. He has been with the company in various leadership roles since 2001. Bergman also represents Disney as part of the Motion Picture Association Board of Directors.
Mr. Bergman’s strength is in theatrical releases and animation.
Chairman of Disney Parks, Experiences, and Products, Josh D’Amaro.
D’Amaro has been a popular executive at the Walt Disney Company. He’s often seen interacting with Cast Members and guests at the parks.
He started at Disney in 1998 and has held several positions in products, parks and planning. Before being made Chairman of Parks, Experiences and Products D’Amaro was both President of Disneyland Resort and President of Walt Disney World Resort.
His strength is the parks and experiences.
Chairman of ESPN and Sports Content, Jimmy Pitaro
Pitaro has been at ESPN since 2018, but he’s only been Chairman of ESPN for a little over a year. Previously, he was chairman of Disney Consumer Products and Interactive Media.
He joined Disney in 2010 as Co-President, Disney Interactive.
Mr. Pitaro has strengths in ESPN as well as consumer products and interactive media.
Bloomberg said that Disney may appoint one person to a COO (chief operating officer) position or president position before he leaves in 2026.
Rumors also indicate that Bob Iger would spend time with each candidate to see how he approaches the job and ensure they are “exposed to business units they’re not familiar with.”
Interestingly enough, one of Iger’s reported issues with Bob Chapek was that he didn’t do it the same way he would. I hope we don’t get Bob Iger 2.0 out of this.
After months of hearing nothing more on the subject, a proxy war breaks out, and suddenly Disney has been working on succession the whole time. Hopefully that is true.
What do you think? Comment and let us know!
Source: Bloomberg
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