Disney searches for its next big boss as Bob Iger plans his 2nd retirement
On the hunt for Bob 3… The Mouse House finally has a plan for finding its next big cheese. Disney yesterday said it'll name a replacement for legendary CEO Bob Iger in early 2026 (FYI: Iger oversaw Disney acquisitions including Pixar, Marvel, and Lucasfilm). He said he’s definitely calling it quits, but some insiders have their doubts: he delayed his first retirement four times, and then returned after just two years in 2022 after his replacement, Bob Chapek, was ousted.
High stakes: Iger’s last retirement didn’t go well. Under Chapek, Disney’s shares tumbled from a peak of $200 to $85, with investors criticizing several of the company’s moves.
Not so magic: Iger, who’s said he’s “obsessed” with his succession, hasn’t had an easy comeback. Hollywood strikes, box-office flops, underperforming parks, and activist-investor battles have dampened business.
Up next: Several Disney division heads are believed to be at the top of the “Next Iger” list, including the chair of TV and the head of parks and experiences.
Heavy lies the crown… More companies have been struggling to find the right leader fit. There were 1.3K chief-exec departures in the first half of this year, the highest rate since at least 2015. About 40% of this year’s CEO exits have been firings or force outs. Execs aren’t given much time in the corner office either: since the pandemic, the average big boss’s tenure has halved from 12 years to about 6.
Celeb CEOs are hard to lose… It’s tough replacing longtime leaders who’ve become the face of their companies. In some cases it’s worked, like when Jeff Bezos handed the Amazon reins to Andy Jassy. Others have struggled and gone back to OG execs. Nike replaced its CEO with longtime company vet Elliott Hill last month, and Under Armour replaced its chief exec (after just a year on the job) with founder Kevin Plank.