Bob Iger, chairman and chief executive officer of The Walt Disney Company, speaks during an Economic Club of New York event in Midtown Manhattan on October 24, 2019 in New York City. Earlier this year, Iger announced that he will step down as CEO and chairman of Disney when his contract expires at the end of 2021. Drew Angerer/Getty Images
Bob Iger has doubled down on finding a successor at the Walt Disney Company, saying he is keenly aware how important it is to find the right replacement before his contract expires. On a recent podcast interview with Kelly Ripa, the chief executive said, "I'm obsessed with the task at hand," acknowledging that getting it just right is one of his top priorities.
His current contract is due to end in December 2026, but Iger is hoping to finish the job earlier than that.
According to Yahoo Finance, the succession planning for Disney CEO turned urgent when, last week, Disney announced that former Morgan Stanley CEO James Gorman would spearhead the company's succession planning committee.
Now, Iger is working hard to find his replacement as it has been a difficult years for Disney. Bob Chapek, who took over before Iger, was removed in November 2022 after less than three years due to several problems and controversies.
Iger came back to lead Disney in November 2022 and has agreed to stay until the end of 2026 to help fix the company's issues and get it back on track.
However, Disney is currently dealing with challenges, such as falling revenue from its parks and shifting to streaming. According to Postpace's timeline, the company has struggled with creative issues at the box office and legal problems with its sports ventures. However, there have been some recent wins, like the successful turnaround of Disney's streaming services and new projects like the ESPN streaming service.
With over two years left on his contract, Iger's deadline for a successor might come sooner if internal and external conditions demand it. Earlier this year, VCPost reported that potential candidates within Disney include Dana Walden, co-chair of Disney Entertainment; Alan Bergman, head of Disney's film division; Josh D'Amaro, head of Disney's parks division; and Jimmy Pitaro, chairman of ESPN. Former executives Kevin Mayer and Tom Staggs, who are now strategic advisers, could also be considered for the role.
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