The long wait is over—well, almost. Disney’s succession plans have been up in the air for years now, particularly after CEO Bob Iger’s departure in 2020 and abrupt return two years later after a failed stint by his hand-picked replacement, Bob Chapek.But Disney on Monday gave us an official timestamp for when Disney’s Iger era would be over: Early 2026. It’s a moment the 73-year-old CEO has been awaiting for quite awhile and something he’s been anything but quiet about. During his second go-around as CEO, Iger said he’s so keen on his retirement that he’s “obsessed” with finding his replacement, he told Kelly Ripa in a podcast released Aug. 21 on Spotify.While Disney’s succession plans will be announced in early 2026, Iger will remain at his post until his contract ends in December 2026, according to a statement released Monday by Disney.“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026,” James P. Gorman, who was announced Monday as the new chairman of the board effective Jan. 2, 2026, said in the statement. He succeeds Mark G. Parker, who is leaving Disney after nine years on the board.Iger also told CNBC in April that choosing his replacement is “the board’s No. 1 priority,” adding Disney’s succession committee, which was established when he returned in 2022, held several meetings in 2023 and has plans to meet more in 2024. “It’s really important to name the right person at the right time—and to create a transition process that is healthy,” Iger told CNBC. “This is a big, complicated company, and not only is it important to choose the right person, but it’s really important to give that person all of the opportunity in the world to be successful in the job.” While the question about when Iger’s successor will be named has been answered, who that will be is still up in the air. But there are several candidates worth watching to take the top post at the entertainment giant. “The next CEO must be a visionary leader to guide Disney through a rapidly evolving media landscape, particularly with the company’s emphasis on streaming and digital transformation,” Catherine Rymsha, a management lecturer at the University of Massachusetts Lowell specializing in succession and talent management, told Fortune. “Plus, an understanding of how to balance creative innovation with financial sustainability will be crucial.”Disney did not immediately respond to Fortune’s request for comment on who might be named as Iger’s successor.Who could replace Bob Iger as Disney CEO?The most likely candidates for Disney’s next CEO are internal, although a source told CNBC the company is conducting “due diligence on both internal and external candidates.”While poaching has been more popular (take Brian Niccol’s departure from Chipotle to Starbucks as an example), outside-hire CEOs have an 84% greater chance of turnover than insiders in the first three years, according to Harvard Business Review. The most likely Disney CEO candidates are as follows:Dana Walden, co-chair of filmed entertainmentWalden is the co-chair of Disney Entertainment and oversees the company’s entire portfolio of entertainment media, news and content businesses globally, including its streaming business. Under her leadership, Disney has hit peak streaming viewership with their content on Hulu Originals, Disney TV Studios, Disney Branded TV, ABC Entertainment, and ABC News. She also oversees the production and development of some of the biggest TV shows of all time, including “Glee,” “Grey’s Anatomy,” “Dancing with the Stars,” and “American Horror Story.”She joined Disney in 2019 with the company’s acquisition of 21st Century Fox, having served as the chair and CEO of Fox Television Group. Walden and Iger also attended the Emmys together this year, and she has been at the top of the short list of potential CEO candidates for quite some time. “She stands out due to her deep expertise in content creation and her leadership in driving Disney’s massive entertainment portfolio,” Rymsha said.Josh D’Amaro, head of Disney theme parksD’Amaro’s official title at Disney is the chairman of Disney Experiences, leading the theme parks and video game content production for the company. He’s currently knee-deep in a 10-year, $60 billion investment for new Disney attractions, lands, hotels, cruise ships, and technology. D’Amaro has pretty much been a Disney lifer, having been with the company since 1998 shortly after he graduated from Georgetown University. This makes him a “key contender, given his role in overseeing one of Disney’s largest and most profitable divisions,” Rymsha said. Walden and D’Amaro have been the most frequently referenced potential candidates for CEO at Disney thus far. In fact, “Anyone beyond Dana or Josh is probably a stretch,” a top talent dealmaker told Variety. D’Amaro oversees 12 Disney Parks across the U.S., Europe, and Asia, as well as Disney Signature Experiences encompassing family leisure and travel outside of the theme park attractions—which includes the five ships and two island destinations a part of the Disney Cruise Line. D’Amaro also manages the licensing business for Disney toys, apparel, and home goods. Alan Bergman, co-chair of the film studiosAlan Bergman is a co-chairman of Disney’s entire entertainment media portfolio, spearheading innovation in the filmmaking studios. He oversees the production and storytelling for Disney, Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios, Lucasfilm, 20th Century Studios, and Searchlight Pictures. Bergman is also involved on the musical side—he manages the businesses Disney Music Group and Disney Theatrical Group, which involve Broadway and other stage productions. As Disney’s movie chief, Bergman has catapulted the success of the company’s films to new heights. Since he became president of the studios in 2005, he led the production of dozens of Disney movies that have all individually grossed over $1 billion at the box office, with hits like “Avengers: Endgame,” “Avatar: The Way of Water,” “Star Wars: The Force Awakens,” and surpassing $2 billion. Bergman is also a member of the Academy of Motion Picture Arts and Sciences, and the Television Academy. Under his watch, the company set several box office records, leading the global box office from 2015 to 2022, including a record-setting $11 billion worldwide gross in 2019.Bergman has been with The Walt Disney Studios for the past two decades. He held a slew of other leadership positions with the film studios since joining the company. James Pitaro, ESPN chairmanPitaro stepped into the role as the chairman for ESPN in early 2023, leading one of the three major business segments for Disney. He manages the company’s entire sports portfolio, from content and products to experiences and creative development. His work most recently entailed leading ESPN’s live programming networks, including sports news and unscripted content for ESPN+ and ABC. Pitaro was first named president and co-chair of ESPN in 2018 after serving as chairman of Disney Consumer Products and Interactive Media. And he stepped into the role at a tumultuous time: Consumer habits were rapidly changing, and streaming was all the rage. Pitaro was placed on the Sports Business Journal’s “Forty under 40” ranking in 2009, and in 2020 he was named the publication’s Sports Executive of the year. Kevin Mayer + Tom StaggsMayer and Staggs were once considered heirs apparent to Iger are also back at Disney in advisory roles, so maybe this time around they’ll land the top job.
