Disney alerts subsequent CEO will take over an organization with robust momentum

Disney is prepared for its subsequent CEO.

On Monday, the corporate’s management outlined its latest successes throughout its quarterly earnings report. CEO Bob Iger made the case that when his soon-to-be-named successor picks up the baton, Disney will probably be primed to grab the momentum.

“I am extremely pleased with all that we have completed over the previous three years to set Disney on the trail to continued development. I am impressed and energized by the alternatives forward for this excellent firm,” Iger informed traders on Monday.

Iger reclaimed the CEO function in late 2022 after a failed succession plan involving former parks boss Bob Chapek. Disney picked Chapek to succeed Iger in 2020 solely to fireside him 2½ years later and undo most of the adjustments he’d carried out.

Now, Disney is relying on a smoother handover the second time round, cushioned by a path to development.

The Disney board is assembly this week and is predicted to vote on its subsequent CEO, in keeping with individuals acquainted with the matter who spoke on the situation of anonymity about inner issues. The corporate beforehand stated it will announce a substitute for Iger within the first quarter of this yr. 

“I believe what’s noteworthy is that once I got here again three years in the past, I had an amazing quantity that wanted fixing,” Iger stated on Monday’s name. “However anybody who runs an organization additionally is aware of that it will probably’t simply be about fixing. It needs to be getting ready an organization for its future … however taking steps to create alternatives for development.”

On Monday, Disney topped Wall Avenue expectations for each income and earnings for its fiscal first quarter.

The corporate’s experiences division, which incorporates theme parks, resorts and cruises, notched greater than $10 billion in quarterly income for the primary time. Chairman of Disney Experiences Josh D’Amaro is among the many front-runners to be named as the following CEO.

Trade insiders and Disney sources count on D’Amaro to be appointed Iger’s successor, although the choice in the end lies with the Disney board and will not be remaining till administrators vote.

“The board has not but chosen the following CEO of The Walt Disney Firm and as soon as that call is made, we are going to announce it,” a Disney spokesperson stated in a press release, declining to touch upon the timing of the following board assembly.

Iger stated Monday he was “very, very bullish” on the parks enterprise and its potential to develop. Disney is now planning to develop a theme park and resort in Abu Dhabi, United Arab Emirates, has been launching extra cruise ships, and is within the midst of a beforehand introduced funding of $60 billion into its theme parks over the following decade.

In the meantime, Disney’s leisure phase — the unit that homes its TV networks, streaming and theatrical releases, and arguably wanted the most important turnaround in recent times — noticed income rise 7% within the interval. Disney stopped breaking out streaming subscriber development this quarter, however supplied steerage that confirmed Disney is assured it can proceed to develop and offset conventional TV declines.

Whereas theme parks, resorts and cruises have been the revenue driver for Disney, its TV, streaming and movie enterprise is usually in focus. Following underwhelming years on the field workplace, Disney dominated in 2025, and on Monday its management touted its slate forward.

“Trying again only a few years when our film enterprise was affected by Covid and the streaming enterprise was clearly not in a suitable place, it is clear that the way forward for each of these companies, or let’s name it our leisure enterprise, can also be shiny and it should develop,” Iger stated on the corporate’s earnings name.

Disney’s Co-Chairman of Leisure, Dana Walden, can also be among the many Iger lieutenants vying for the CEO seat, CNBC beforehand reported.

Former Morgan Stanley CEO James Gorman has been operating the method to pick out a successor. Given the give attention to theme parks in recent times, hypothesis has just lately swung in D’Amaro’s favor.

“In a world that adjustments as a lot because it does … making an attempt to protect the established order was a mistake,” Iger stated Monday addressing Disney’s final management transition.

“And I am sure that my successor is not going to do this,” he stated. “They will be handed, I believe, a very good hand by way of the power of the corporate, quite a lot of alternatives to develop and in addition the expectation that in a world that adjustments, you additionally must proceed to alter and evolve as properly.”

— CNBC’s Julia Boorstin contributed to this report.

Correction: This story has been up to date to right the spelling of Morgan Stanley.