Disney to name new CEO in 2026

Disney announced it will name a replacement for its long-time CEO, Bob Iger, in 2026—a task the company has struggled with for a long time.

The House of Mouse also said it will appoint James Gorman, Morgan Stanley’s ex-CEO and current chairman, as its new board chairman in January.

During his first stint as CEO, Iger extended his contract four times. He finally stepped down in 2020 after naming Bob Chapek his successor.

But Chapek was ousted two years later, marking Iger’s return as interim CEO.

The entertainment giant has been criticized over its succession planning, but Gorman is expected to bring a fresh, independent approach. He is replacing board head Mark Parker, the former CEO of Nike.

Way forward
Disney is now considering both internal and external candidates for the CEO role. Internal candidates include Josh D’Amaro, Dana Walden, Jimmy Pitaro and Alan Bergman.

Challenges
Disney stock fell 0.4% after the announcement. The company’s projected 2024 net income is $6.2 billion, still far below its 2018 record of $12.6 billion. Its stock has stayed below $100 for much of the year, down ~65% from three years ago.

Its streaming investments are high, and the theme park business has shown signs of slowing as consumers seek more affordable options.