Disney Nears Leadership Change as Josh D’Amaro Leads Succession Race

The Walt Disney Company is on the verge of a significant leadership transition, with Josh D’Amaro, Chairman of Disney Experiences, emerging as the leading candidate to succeed Bob Iger as Chief Executive Officer. Iger’s extended tenure is set to conclude in 2026, and as his departure approaches, the search for a successor has become one of the most closely watched corporate transitions in recent history.

Iger returned to Disney in late 2022 following the contentious exit of Bob Chapek. Committed to avoiding past mistakes, he has taken a hands-on approach in evaluating candidates, emphasizing the need for the next CEO to be “the absolute right person for the job.”

D’Amaro, aged 54, has nearly three decades of experience at Disney. He has climbed the corporate ladder to oversee the company’s most lucrative division, which encompasses theme parks, cruise lines, and consumer products. This division generated an impressive $8.12 billion in profit during the first nine months of fiscal 2025, outpacing Disney’s entertainment and sports segments combined.

Strong Leadership and Strategic Vision

D’Amaro’s leadership has also been pivotal in shaping Disney’s $60 billion investment strategy, which includes global expansions of theme parks, the introduction of new cruise ships, and the establishment of the company’s first licensed resort in the Middle East. Additionally, he currently manages Disney’s $1.5 billion stake in Epic Games, known for its popular game Fortnite, reinforcing his influence in both physical and digital landscapes.

Insiders highlight D’Amaro’s profound understanding of Disney’s culture and brand values as a significant advantage over other potential candidates. While D’Amaro is in the lead, other names are still in contention. Dana Walden, Co-Chair of Disney Entertainment, has garnered recognition for her role in steering Disney+ to profitability and producing acclaimed series such as The Bear and Only Murders in the Building. Nevertheless, her involvement in controversies, including the suspension of late-night host Jimmy Kimmel, has reportedly raised concerns among some shareholders.

Other contenders include Alan Bergman, Walden’s fellow Co-Chair, and James Pitaro, Chairman of ESPN. However, both are now considered less likely to succeed Iger, leading many industry observers to label the situation as a “two-horse race” primarily between D’Amaro and Walden. A final decision from the board is anticipated in early 2026.

Deliberate Decision-Making Process

Despite the growing consensus around D’Amaro’s candidacy, Iger has maintained a cautious public stance. During a recent meal at Farmshop in Santa Monica, a colleague remarked that D’Amaro “will do a great job when he’s appointed CEO.” Eyewitnesses reported that Iger “bristled” at the suggestion and asserted that no decision had been made. This reaction underscores the sensitivity surrounding the succession, particularly given the previous challenges faced during Chapek’s appointment.

A source close to the board commented, “He’s being extremely deliberate this time. He wants to leave the company in the right hands.” The upcoming CEO will inherit a multifaceted entertainment empire that must continue to ensure profitability across its theme parks and resorts while revitalizing its streaming strategy and navigating political challenges, particularly in Florida.

As the race for leadership intensifies, the outcome of this succession battle will significantly influence Disney’s direction for years to come. Until the board confirms its choice, the high-stakes contest to replace Bob Iger remains unresolved.