Disney’s Bob Iger is planning to step down as CEO prior to the end of his contract, according to The Wall Street Journal.
Iger, who returned to the company in November 2022 following the ouster of his successor-turned-predecessor Bob Chapek, is currently slated to serve as CEO through the end of 2026.
The Journal reports that the entertainment giant’s board of directors is planning to meet next week, where they are expected to vote on who should take the top job. The board has publicly said that the successor would be announced in early 2026.
The final timing of Iger’s departure from the top job hasn’t been determined and could change. Iger is expected to remain CEO for several months to mentor his successor, the outlet notes. He could also retain a role on the board and at the company after the transition.
According to WSJ, Iger has told multiple associates that he would like to spend more of his time and energy on other things, such as sailing on his superyacht Aquarius, spending time with his wife and USC Annenberg School for Communications and Journalism dean Willow Bay and on Angel City FC, the women’s soccer team they bought in 2024. He also wants to give his successor a “fresh start” and has said lingering until the end of the year could hinder whomever the board picks next.
A spokesperson for Disney did not immediately return TheWrap’s request for comment.
The years-long search process for Iger’s replacement is being led by the Disney board’s succession planning committee, which includes chairman James Gorman, who led his own search for a successor after an 18-year run as Morgan Stanley’s CEO, and directors Mary Barra, Jeremy Darroch and Calvin McDonald.
Internal candidates under consideration for the top job include Disney Entertainment co-chairs Dana Walden and Alan Bergman, Disney Experiences chairman Josh D’Amaro and ESPN chairman Jimmy Pitaro. Many outside observers view the process as a two-horse race between Walden and D’Amaro.
All four candidates have gone through a “rigorous” preparation process that included mentorship from Iger, external coaching and engagement with all 10 of the board’s directors. (Disney’s board is poised to expand to 11 members after the company nominated for Apple executive Jeff Williams to stand election at its 2026 annual meeting in March.)
In fiscal 2025 alone, the succession planning committee met five times. It reported to the full board at every scheduled meeting and reserved time to meet without Iger present as appropriate. It also discussed succession with Iger present at least once a year.
As part of the discussions, the board’s compensation committee reviewed and considered shareholder feedback to determine a new CEO pay package when succession takes place and design an executive compensation program aimed at “driving the creation of long-term shareholder value.” In 2025, Iger was paid $45.8 million, an 11.5% increase from $41.1 million in 2024.
Iger returned to Disney as CEO in November 2022 following the disastrous ouster of his successor-turned-predecessor Chapek.
Chapek, who previously served as the company’s parks chief before taking on the role of CEO from 2020 to 2022, had a tenure that was marked by multiple missteps, including a poorly handled lawsuit from Scarlett Johansson over her salary tied to the streaming release of “Black Widow” as well as his initial decision to stay mum about Florida’s “Don’t Say Gay” bill, drawing the ire of numerous employees. He also was in charge as the COVID pandemic ravaged the globe, which resulted in temporary closures of Disney’s theme parks and thousands of employees who were either furloughed or laid off.
Prior to handing off the reins to Chapek, Iger served as Disney’s CEO for 15 years from 2005 to 2020, during which time he oversaw the acquisitions of Pixar, Marvel Studios, Lucasfilm and 21st Century Fox. He has famously been a well-liked CEO — delaying his departure date multiple times.
Iger’s latest term has included a number of milestones, such as Disney+ reaching streaming profitability, the launch of the ESPN Unlimited streaming service, the sale of Star India to Reliance industries, acquiring full control of Hulu and a majority stake in Fubo and a landmark deal with OpenAI.
But it also included a fair number of challenges, including the Hollywood writers’ and actors’ strike in 2023, a proxy battle with activist investor Nelson Peltz, the failed launch of the Disney, Fox and Warner Bros. Discovery joint streaming venture Venu Sports, a $16 million legal settlement between ABC News and President Donald Trump, box office struggles and the temporary suspension of ABC late night host Jimmy Kimmel.
When asked how he’d like to be remembered during a podcast interview in November, Iger said he hoped he’d be remembered as someone who helped usher Disney to “a place that even Walt would be proud of.”
“What that means is more great storytelling to a larger audience, more innovation, more risk-taking, more really creation of happiness. It’s really that simple,” Iger said. “At one point I thought, ‘Well, OK, you’re now running Disney. What’s the most you want out of it?’ Well, don’t screw it up, but it’s much more than that. I really have been mindful of the duty that I feel has been handed to me to make it even better than it’s ever been.”
As for his successor, Iger said that he hopes they would be “respectful of our past and well aware of the values that really created the value of the company in the first place, and carry them forward, but not let anything that’s been done in the past get in the way of bringing the company into the future.”
“That’s really constant innovation, a constant exploration, constant desire to reinvent or to invent even more than anything else. That’s what I’d want,” he said. “But I think we do occupy a place in the world as great storytellers, perhaps maybe the greatest in many respects. And I would hope that position would continue for years and years, decades ahead.”
