Disney’s CEO succession: A timeline of key events
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Walt Disney Co. named a new chief executive this week, tapping theme parks veteran Josh D’Amaro as its new leader.
D’Amaro succeeds Bob Iger, who is expected to retire on Dec. 31 when his contract expires after nearly two decades on the job.
D’Amaro, who joined Disney in 1998, has been tapped to succeed Bob Iger as chief executive of the legendary company, besting three other internal candidates for the high-profile post.
The issue of corporate succession has been a fraught one at Disney — and the subject of intense speculation across Hollywood in recent years.
Here’s a look at key developments in the succession drama:
Feb. 25, 2020: Chapek named CEO
Disney announces that Bob Chapek, a 27-year Disney veteran who led the company’s massively important parks and consumer products business, will succeed Iger.
Chapek, 60, was one of several top Disney executives who were potential successors, including Disney direct-to-consumer chairman Kevin Mayer, who oversaw the successful launch of streaming service Disney+.
Walt Disney Co. ousted Bob Chapek and brought back Bob Iger to run the Burbank-based company, sending shockwaves through the industry.
But the announcement contains a wrinkle: Iger isn’t leaving the company — at least not right away. He will assume the role of executive chairman, leading the company’s creative endeavors, while guiding the leadership transition until the end of his contract on Dec. 31. 2021.
Nov. 20, 2022: Chapek fired, Iger returns
Disney’s board fires Chapek after less than three years on the job and asks Iger to serve two additional years as chief executive, postponing his exit.
The stunning announcement comes after a series of missteps and miscalculations by Chapek, Iger’s hand-picked successor, that raised questions about his leadership.
Disney’s board gave Bob Chapek a three-year contract extension in June. Five months later, the board replaced him with predecessor Bob Iger. What happened?
Directors are said to be increasingly impatient with the company’s shaky financial performance and organizational changes Chapek made at the Mouse House.
“The board came to the conclusion they were losing the heart and soul of the company,” one longtime Disney observer who was not authorized to comment publicly says at the time.
July 12, 2023: Board extends Iger’s contract amid challenges
Disney’s board decides to keep Iger in the top job through December 2026, once again delaying his retirement.
The decision is a recognition of the serious challenges facing the company. Among them: struggles in animated movies, steady subscriber losses at sports giant ESPN and political and cultural battles with conservatives in Florida.
Iger moves swiftly to cut costs and eliminates thousands of jobs across the company. He also directs the company to slow down production of films and TV shows to focus on quality.
The Burbank company has a hangover from its big streaming push. The stock has struggled, investors are restive and its key studios have been stretched.
Oct. 21, 2024: Board taps Gorman to lead succession
After the fiasco with Chapek, Disney turns to someone with a track record of successful succession planning at Morgan Stanley: James Gorman.
Gorman is named chairman of the company’s board of directors, replacing Nike Chief Executive Mark Parker, who leaves after nine years.
Facing pressure from critics such as the activist investor Nelson Peltz, Disney also announces it will pick Iger’s successor by early 2026.
Feb. 3, 2026: Disney picks Josh D’Amaro as new CEO
Disney selects Josh D’Amaro as its new leader. D’Amaro, 54, beat out three other internal candidates for the job and was a Wall Street favorite.
The charismatic 28-year Disney veteran had the edge because of his deep affinity with company’s corporate culture and his success in growing the all-important theme parks business, which is in the midst of an ambitious 10 year, $60-billion parks and cruise line expansion. Being a Wall Street favorite didn’t hurt.
Disney Entertainment Co-Chair Dana Walden was named the company’s president and chief creative officer.
