Bob Iger has told associates he plans to relinquish the chief executive role at Walt Disney and scale back his daily management responsibilities prior to the December 31 end of his current contract, according to people familiar with the situation. The announcement has focused attention on succession planning at the entertainment conglomerate.
Disney's board of directors is expected to meet next week at the company's headquarters in Burbank, California, where directors are anticipated to vote on a replacement for Iger, sources said. The timing of Iger's departure is not yet final and remains subject to change, and company representatives declined to comment when contacted.
People who have spoken with Iger report that over recent months he privately expressed a desire to step away from the rigorous demands of the CEO position. Those conversations also indicated frustration with internal conflicts at Disney's ABC network related to the temporary suspension of late-night host Jimmy Kimmel.
The sources indicated that once a successor is named publicly, Iger is likely to remain in the chief executive office for several months to provide mentorship and facilitate the transition. He also may retain a position on the board and continue to have ties to the company after the operational leadership handoff.
Several senior executives are being viewed as potential successors. Named contenders include Josh D'Amaro, who leads the company's theme-parks operations; Dana Walden and Alan Bergman, who co-head Disney's entertainment division; and Jimmy Pitaro, the head of ESPN.
Contextual note: Succession planning at Disney has been a focal point for investors since the company postponed Iger's retirement multiple times and returned him to the top role in 2022 to replace his chosen successor following pandemic-related disruption to the business.
The exact schedule for Iger's reduction of responsibilities remains unsettled. Reported plans call for an announcement of a successor followed by a transition period during which Iger would continue as CEO to aid the incoming leader.