In the ongoing battle for Disney CEO Bob Iger’s job, a new report from Variety gives Disney Entertainment Co-Chairman Dana Walden a lead over Disney Experiences Chairman Josh D’Amaro. Iger’s current contract expires at the end of 2026, and Iger has repeatedly stated that succession planning is his number one priority right now. A month ago, The Walt Disney Company Board of Directors named Board member James P. Gorman to chair its Succession Planning Committee. As the battle for the top job heats up, it’s looking like a two-horse race as far as internal candidates go.
Walden Over D’Amaro
The Variety report doesn’t turn over any new leaves, but it does say that nearly a dozen “industry players, corporate rivals, and Disney sources” said that Walden has the edge over D’Amaro right now. Disney hasn’t named any potential candidates and even said as recently as last month that external candidates are being reviewed. That said, chatter has almost always been focused on the four division heads as the most likely candidates.
The other two division heads, Jimmy Pitaro at ESPN, and Entertainment Co-Chair Alan Bergman seem to be long shots at the moment.
If Walden were to get the nod, she would be the first female CEO of The Walt Disney Company. Critically, her ties to Hollywood are significantly stronger than failed former CEO Bob Chapek. That lack of connection to the creative side of the Company proved to be an oversight for Iger when choosing Chapek in the past. Walden’s stock may be at an all-time high right now, thanks to a list of recent wins following a record-breaking showing from Disney at the recent Emmys. Under Walden’s leadership, ABC has secured its position as the No. 1 entertainment network for four consecutive seasons – the first time that has happened in more than 25 years.
For his part, D’Amaro is coming off of a wonderful performance at last month’s D23 Expo where he presented a vision for the theme parks that felt more tangible than ever before. D’Amaro, a theme parks guy through and through, is being tasked with guiding Disney’s most profitable branch through its largest-ever capital investment project over the next decade.
Disney says that internal candidates for CEO are going through a preparation process that includes “mentorship from Disney CEO Robert A. Iger, external coaching, and engagement with all Board directors”.
A gripping 12,000-word article from the New York Times recently outlined the inside story of how Iger essentially undermined the tenure of former CEO Bob Chapek. After handing over the reins of Disney to Chapek in February 2020, Iger stayed on as Executive Chairman and, reportedly, didn’t waste much time before undermining Chapek.
Disney is looking for a smoother landing during this succession. Interestingly, the Variety report says that at least one insider is claiming that if the right CEO candidate is found, Iger is open to stepping down as CEO before his contract expires, but remaining as Executive Chairman once again.
Disney’s Succession Planning Committee has met six times already in 2024. The topic of succession planning has been discussed at each of the regularly scheduled Board of Director meetings in FY 2024. The planning process includes the evaluation of transition structures and organizational frameworks. Most importantly, there are discussions about how the succession decision could potentially impact the company as a whole. One insider cautions that if Walden and D’Amaro are passed over for an external candidate, both could go from discussing succession to discussing severance.
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