We now go back to ‘Days of Disney C-Suite Lives,” The united states’s #1 cleaning soap opera a number of the key industry and Hollywood demos. The corporate has publicly mentioned it’ll title present CEO Bob Iger’s successor in early 2026…and it’s now early 2026! This submit discusses the newest dramatic trends within the horse race and gives the highly-coveted DTB endorsement.
By means of maximum accounts, there are two inside applicants who stand out because the perhaps contenders: Leisure Co-Chair Dana Walden and Stories Chair Josh D’Amaro. Walden has a long time of Hollywood experience, emerging to President of Leisure at Fox in 1999, then Co-CEO of the Fox Tv Staff, overseeing the published community and studios. She came around to Disney as a part of the purchase of twenty first Century Fox in 2019.
Josh D’Amaro joined Disney in 1998 at Disneyland Lodge. Over his decades-long profession since, he has held management roles around the corporate, each within the U.S. and across the world throughout finance, industry technique, advertising and marketing, ingenious construction and operations. Pre-pandemic, he ascended the ranks from President of Disneyland Lodge to President of Walt Disney Global Lodge, sooner than temporarily turning into head of the Parks Department when its earlier chief, Bob Chapek, used to be named Disney CEO in 2020.
As you’ll be able to see from the above, there’s little or no overlap within the stories and skill-sets of D’Amaro and Walden. He’s by no means labored in Hollywood, and he or she’s by no means labored in theme parks. A minimum of at excessive ranges. Those gaps in product wisdom and experience imply that both one would essentially be a fish out of water in the case of a good portion of Disney’s greatest divisions. The corporate has tried to treatment this by way of immersing all applicants in industry gadgets with which they’re unfamiliar, however there was no position swaps to additional that procedure.
One treatment to this this is apparently gaining traction is the theory of Walden and D’Amaro serving as co-CEOs. That the Disney board may just choose to make a choice each to collectively substitute Iger. There’s precedent for this, and it could make sense in gentle of the forgoing.
It’s a technique rival Netflix has successfully applied since 2020, when Reed Hastings named Ted Sarandos his co-CEO. 3 years later, Hastings relinquished that submit and moved directly to transform the corporate’s government chairman, raising Greg Peters into his spot as co-CEO.
Netflix’s good fortune has contributed to a contemporary co-CEO wave. Spotify named Alex Norstrom and Gustav Soderstrom as co-CEOs; Oracle named Clay Magouyrk and Mike Sicilia; and Comcast president Mike Cavanagh joined CEO Brian Roberts within the leader position. If Disney’s greatest rival is doing it, who is aware of, it would possibly occur.
More than one media stories have showed that Iger is likewise excited by the concept that, and known as Sarandos to inquire about Netflix’s co-CEO style. Up till now, this name coupled with considerable hypothesis, has been the root of the rising trust that Disney may just use the co-CEO style.
The most recent construction is that revered and well-connected trade insider Matthew Belloni of Puck Information, who amongst different issues heard rumblings of Disneyland Abu Dhabi days sooner than its announcement, has launched his record of “20 Surefire, 100 P.c Possible Hollywood Predictions for 2026.” The name is tongue-in-cheek; clearly predictions are precisely that–however they’re subsidized up by way of conversations and connections in Hollywood and past.
Two of those predictions worry succession at Disney, with the primary coming with an lend a hand from Kim Masters, Editor-at-Massive of The Hollywood Reporter, who additionally authored The Keys to the Kingdom: The Upward push of Michael Eisner. Masters and Belloni “cross out on a limb and say that Josh D’Amaro and Dana Walden will likely be co-C.E.O.s of The Walt Disney Co.”
They reason why that the Disney board would possibly hesitate to offer D’Amaro the keys on his personal after the Bob Chapek debacle, despite the fact that “he items a lot more like an Iger than a Chapek.” They additional, appropriately indicate that “content material is king for Disney,” and having Dana function co-CEO would make that transparent, as would giving her 51 p.c decision-making energy over the movie, TV, and virtual gadgets.
D’Amaro would have identical decision-making authority over parks & accommodations, client merchandise, gaming, and the whole lot else underneath the Stories umbrella. The explanation for this association is strictly what we mentioned above–familiarity, or lack thereof, with the disparate industry gadgets.
Masters theorizes that Iger may just familiarize Josh with the Hollywood creatives all the way through the following yr he’s nonetheless round. The query, in her thoughts, is whether or not board chair James Gorman “has any need to be deferential to Iger on his manner out.”
The Puck piece additionally discusses how Iger “obviously preferred” Walden at one level, and he or she may just make the case for the co-CEO association in keeping with her previous (and reward?) partnership paintings. If the board sought after to do this–or carry D’Amaro to CEO and title Walden head of content material–it has the benefit that neither has any specific position to head, so they might most likely settle for the decision. Masters concludes that she thinks the co-CEO association may well be the place the Disney board is headed.
Belloni takes this one step additional, announcing that board chair James Gorman may just pull a web page from his days main Morgan Stanley, when there used to be a three-way bake-off to switch him as CEO. As a substitute of the losers strolling to c-suite positions in other places, Morgan Stanley introduced them fancy task titles and threw some huge cash at them within the type of one-time bonuses.
He expects Gorman to make a identical transfer at Disney. If the board selects D’Amaro as CEO, Walden will “most likely get a lofty name, oversight of all content material, and a large monetary incentive to stick.” That, blended together with her excellent operating courting with D’Amaro (Belloni stocks that Dana and Josh do have a excellent rapport) suggests she’ll keep.
It’s additionally a sensible fact. With rival studios gobbling up one some other amidst trade contraction, the one secure and strong choices in Hollywood are just about Disney or Netflix. It’s all uncertainty in other places. Belloni underscores this, pointing to the “proven fact that few related jobs even exist in Hollywood this present day, a lot much less ones which are to be had” to Walden as one more reason she’ll keep. And at 61 years previous, Walden most likely isn’t retiring anytime quickly.
Previous to this, a year-end ballot taken by way of Bloomberg requested over 700 trade mavens large questions on the way forward for leisure corporations. Prime on the ones record of sizzling questions, proper up there with who’d purchase Warner Bros. (Netflix), used to be “who would be the CEO of Disney in 2027?”
D’Amaro used to be the winner with kind of 30%, or 212 of the votes. Walden used to be in second-place with 22.5%, or 159 votes. Curiously and concerningly, Bob Iger used to be in 3rd position with 18%, or 126 votes. This doesn’t imply that Disney goes to discover a moment guy named “Bob Iger” to switch Bob Iger, the primary. It method the OG Bob Iger is sticking round all over again.
The fourth-place pick out used to be Co-CEOs at 15.3%, adopted by way of an interloper at 8.8%, or some other dark-horse Disney candidate at 5.5%. Outsider may just imply Kevin Mayer or Tom Staggs. Or, I assume, Bob Chapek 2.0. The remaining time this ballot used to be taken, Dana Walden used to be the winner.
One of the crucial issues it’s vital to emphasise with all of this Disney CEO horse race drama is that it comes to numerous trade gossip. It’s like a foul sport of phone, and turns into one thing of a self-fulfilling prophecy. A minimum of, in phrases when it issues communicate of front-runners, no longer who will in truth be named.
Which is to mention that numerous that is round. Somebody writes within the Hollywood trades that they’ve heard D’Amaro is transferring into the front-runner place, however what they in point of fact imply is they’ve noticed D’Amaro make extra public appearances with Iger, and are surmising one thing from that…however wish to sound extra related than they’re. Then somebody else sees that piece, and stories it as their very own. , there are two assets “listening to” that the winds have modified. And so forth and so on.
This isn’t the case with Belloni and Masters, simply to be transparent. Their trade connections are well-established and their monitor information confirmed. However the 700 so-called trade mavens surveyed by way of Bloomberg? No longer an opportunity. They’re simply synthesizing what they’ve learn within the trades, which would possibly or won’t have any foundation if truth be told. There are perhaps two-dozen other folks on this planet who know which manner the Disney board is leaning with Iger’s successor. Undoubtedly no longer 700, and almost definitely no longer even 7 who document in this stuff.
On the possibility of pointing out the most obvious, It’s not that i am 7 of the ones other folks. I do listen numerous chatter from throughout the corporate about who they be expecting to be the following CEO, even though. The transparent consensus is D’Amaro.
Alternatively, each and every unmarried this sort of other folks is within the Stories department, in order that they’re biased; and maximum are almost definitely no longer able to understand. They’re doing the similar factor as Bloomberg’s 700 trade mavens–repeating what they’ve learn or heard from colleagues. Like I mentioned, it’s a foul sport of phone.
I’m skeptical of any rumors, particularly after being blindsided on a blustery February 2020 day with the scoop of Bob Chapek’s ascension to the throne. There used to be additionally numerous, ahem, chatter about Chapek previous to that point amongst parks other folks–lengthy sooner than his disastrous reign as best canine–and none of it used to be “this man’s were given the chops to be CEO.” Slightly actually, the other.
Finally, upload those to the rising pile of news from the remaining yr suggesting that D’Amaro and Walden are the main applicants, with the previous as front-runner.
Once more, I do know completely not anything and I’d’ve guessed that D’Amaro could be front-runner just by distinctive feature of his place, public appearances, and different variables. In the case of appearances, D’Amaro has made numerous the ones over the past 6 months that would appear to sign he’s CEO in ready.
Extra importantly, industry is booming for the Stories department. It changed into the corporate’s number one benefit engine in 2022, changing the declining cable TV industry. Stories now represents over 70% of Disney’s total running source of revenue, up from 41% in 2019 and 34.5% in 2018.
Stories is Disney’s simplest core industry to have grown measurably since 2020. For the remaining fiscal yr, benefit within the department rose to $10 billion, up 8% from the prior yr. That’s a 3rd greater than Disney’s TV, movie, streaming and sports activities segments blended. The previous few years were a fight for the ones companies; theme parks are preserving Disney afloat.
On account of the phase’s good fortune underneath D’Amaro’s management, Stories is seeing $60 billion of funding over the following decade. It’s our expectation that the true quantity finally ends up being upper, and it additionally doesn’t account for tasks/partnerships that will likely be income turbines with out funding, like Disneyland Abu Dhabi.
Given all that, it kind of feels simplest logical that Disney’s subsequent CEO would come from its maximum a success department, and be the only one who has a relatively spotless document all the way through that time-frame.
I received’t faux to understand a lot about Dana Walden. She appears to be relatively in style inside Hollywood and is excellent at what she does. Alternatively, my wisdom of her is completely superficial.
Walden is smart given the paramount significance of content material to Disney. This has most likely been amplified by way of Chapek’s disastrous dealing with of the Hollywood facet of the industry, from alienating skill to approving a pipeline of displays and movies that controlled the spectacular feat of being each dear and terrible. I’d’ve guessed that greenlighting a host of sequels and mediocre reside motion remakes could be simple stuff that any one may just get proper. It seems that no longer.
Past her industry acumen and relationships with Hollywood skill, the benefit Walden has is that she’d be ancient–Disney’s first feminine CEO. That’s a double-edged sword, even though; she’d almost definitely be seen because the extra political pick out, and her title has been concerned with cleansing up high-profile issues at Disney. The board may well be reluctant to call her as CEO between now and November 2028, and this resolution is coming in early 2026.
My hope is that Josh D’Amaro is called Disney’s subsequent CEO.
Together with that, I am hoping Walden is saved on board as head of content material or another prestigious name. However I feel the co-CEO association is a recipe for in-fighting and palace intrigue, so I’d choose if Disney avoids that. There must be a transparent best boss, even though it’s a close to co-equals dynamic.
The cases had been distinctive at Netflix, and Disney has had manner an excessive amount of drama over the past…effectively, because the Eisner days. Let Walden be in command of the Hollywood stuff so Josh isn’t distracted by way of the fewer vital facet of the industry and will focal point on what in point of fact issues in lifestyles: theme parks.
It’s bizarre to me that the trades stay pointing to Netflix because the style for Disney, when the actual blueprint for what would possibly paintings supreme is Disney itself. Iger must be calling former CEO Michael Eisner, no longer Reed Hastings. As longtime fanatics would possibly recall, the ‘Disney Decade’ of the Nineteen Nineties used to be powered by way of the two-man staff of Eisner and Frank Wells.
Wells served as President and Leader Running Officer, whilst Eisner used to be Chairman and CEO. They loved super good fortune up till Wells’ demise in 1994. However you know this for those who’ve learn DisneyWar. And for those who haven’t learn DisneyWar, effectively, learn DisneyWar!
Disney’s board nearly surely isn’t going for that particular association once more, however one thing alongside those traces might be workable. As long as Josh D’Amaro is CEO.
That is no less than in part an issue of expediency and to make sure continuity of tasks. All it takes is a regime alternate to derail tasks that aren’t sufficiently a ways alongside in building. New leaders like to make their mark on theme park tasks, in tactics each excellent and unhealthy.
New CEOs want their very own puppy houses, and there’s 0 reason why to imagine Walden has any affinity in opposition to the theme parks. On the contrary, she would possibly imagine it’s time for Disney to as soon as once more double-down on streaming, and tackle Netflix head-to-head. That might be completely catastrophic for the parks.
Suffice to mention, some fanatics who oppose D’Amaro being named CEO for no matter reason why have a failure of creativeness in the case of the disadvantage possibility within the unknown. My (utterly faux) vote for D’Amaro isn’t essentially an endorsement of his management within the remaining ~6 years; it’s a vote for endured funding of $60 billion or extra within the Parks & Accommodations.
There is also little issues over which he and Iger disagreed, however I can’t see him cancelling a complete land or changing the process a challenge completely. D’Amaro is the consistency and continuity CEO candidate. Any person else might be an agent of alternate and chaos.
For those who’d like to peer some alternate and chaos, perhaps Walden is your pick out. However simply needless to say the grass is at all times greener. Whilst you’re advocating for unsure adjustments, don’t envision a best-case situation the place the whole lot is for your liking as a visitor and fan. As a substitute believe the counterfactual, the place issues get measurably worse.
There were numerous pictures of Josh D’Amaro at Hollywood premieres and different trade occasions. However have you ever noticed a unmarried picture of Dana Walden at Disneyland? And even simply down the road from Burbank at Imagineering’s workplaces in Glendale? Have you ever ever heard her talk fondly of parks or point out her favourite enchantment in interviews?
I haven’t the slightest inkling the place Dana Walden stands on theme parks. However I will be able to inform you that they’re no longer precisely liked amongst many within the movie trade. There are a rising choice of Disney Adults in Hollywood, positive. There’s additionally a stereotype that theme parks are frivolity for youngsters, misfits and bumpkins. Anaheim would possibly as effectively be in Florida–they’re similarly not likely to talk over with both Orange County.
In the meantime, making the 657th film about males flying round in spandex is someway regarded as the best and noblest artform. In equity, no longer each and every studio makes superhero movies. There’s additionally dinosaur sequels, online game variations, the short automobile franchise, the cute yellow henchmen, and so on.
It’s possible you’ll assume I’m kidding or that that is hyperbole, nevertheless it in point of fact isn’t. Business other folks ceaselessly assume Hollywood is the middle of the universe, having an oversized opinion of its present-day significance. If even Disneyland, a cultural cornerstone of Southern California, is underneath them, you’ll be able to believe their ideas at the ‘different Disneyland’ out within the swamp, or Euro Disneyland, or those in Asia, or the massive boats.
Simply to reiterate as soon as once more, I haven’t the slightest clue the place Dana Walden stands on theme parks. So this stereotypical Hollywood trade government would possibly no longer describe her in any respect. Perhaps she’s secretly a fan, and visits together with her circle of relatives each and every weekend! However I’m skeptical of that, and it’s a little bit relating to that we haven’t heard or noticed the rest about her and Disney’s greatest department–no longer even seeking to faux it for the cameras.
In the long run, for this reason I’d love to have somebody from Parks & Accommodations function CEO of the Walt Disney Corporate. At the moment, that individual could be Josh D’Amaro. I’ve transform much less bullish on him, individually, as a result of his monitor document on tasks that had been began and finished underneath his tenure is a restricted and combined bag.
Nonetheless, I’d reasonably have D’Amaro over the lifelike choices for the straightforward reason why that he’s a “Parks Man.” No longer simplest that, however I’d love to imagine that his arms were tied by way of the streaming struggles and the whole lot else, so treading water from 2020 to 2024 used to be the most efficient case situation.
I’d love to imagine the blame for the EPCOT overhaul debacle and different post-COVID tasks lies in other places. That the ‘turbocharged’ challenge slate will cross significantly better. It already does appear to be Walt Disney Global is popping a nook and is aggressively transferring ahead with its $17 billion proportion of the ones $60 billion in parks tasks.
On a good observe, we’ve heard masses about D’Amaro from previous colleagues and Solid Participants–and nonetheless need to offer him the advantage of the doubt in keeping with that. Individuals who have labored with him–and no longer simply frontline Solid Participants who’ve superficial encounters–counsel that he’s the actual deal.
That D’Amaro is somebody who really “will get” Walt Disney Global and Disneyland, cares about Solid Participants and the visitor revel in, and would suggest for theme parks had been he CEO. I’m susceptible to imagine this.
In his roles as President of Disneyland and Walt Disney Global, we noticed D’Amaro within the parks continuously–and no longer only for picture ops or media occasions with a staff of handlers. I’ve noticed him extra occasions than I will be able to rely, simply strolling the parks or interacting with frontline Solid Participants.
The key is that I wish to see somebody come from Stories. I would like that to be Disney’s focal point. That’s my glaring non-public bias, nevertheless it’s additionally obviously within the corporate’s supreme monetary pursuits. It could be great to have a CEO who got here up during the parks and understands their significance to the corporate’s ingenious legacy–and no longer simply because the goose(s) that lay golden eggs that they view contemptuously.
Whether or not that’s Josh D’Amaro, the triumphant go back of Tom Staggs, or some thriller 3rd candidate with a parks pedigree, I don’t in point of fact care. I’ll take they all over any person from Hollywood (Pete Docter and Kevin Feige excepted). Right here’s hoping we don’t have to attend for much longer, and Disney places all this gossip to leisure with an reliable announcement within the subsequent 2 months. We’ll stay you posted!
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OUR THOUGHTS
Who do you assume will likely be CEO of the Walt Disney Corporate on January 1, 2027? Will or not it’s Bob Iger (nonetheless), Josh D’Amaro, Dana Walden, Tom Staggs, or not one of the above? Who must or not it’s? Do you compromise or disagree with our evaluate? Any questions we will be able to let you solution? Listening to your comments–even while you disagree with us–is each fascinating to us and useful to different readers, so please proportion your ideas underneath within the feedback!
