Disney CEO Bob Iger signals plan to step down ahead of contract end: Report

Walt Disney chief executive Bob Iger has told “associates” that he plans to step down as CEO and gradually withdraw from day-to-day management before his contract expires on 31 December, according to a report by The Wall Street Journal, citing people familiar with the matter.

Bob Iger to reportedly step down as Disney's CEO: Report

Succession planning at the media conglomerate has remained under close scrutiny from investors after Disney postponed Iger’s retirement several times, before bringing him back in 2022 to replace his hand-picked successor Bob Chapek.

Chapek was removed as chief executive after the pandemic significantly disrupted the company’s business.

According to the report, Disney’s board of directors is expected to meet next week at the company’s headquarters in Burbank, California, where members are likely to vote on who should succeed Iger as chief executive.

In private conversations over the past few months, Iger has reportedly told people close to him that he is ready to move on from the demands of the CEO role. He was also said to be frustrated by internal disputes at Disney’s ABC network, particularly surrounding the brief suspension of late-night host Jimmy Kimmel, the report added, citing people who have spoken directly with him.

The timing of Iger’s departure has not been finalised and could still change.

Despite the transition, Iger is expected to remain in the CEO role for several months after the company announces his successor, allowing him to mentor the incoming leader. The report also said that Iger could retain a position on Disney’s board and remain involved with the company even after stepping down as chief executive.

Several senior executives are being viewed as potential contenders for the top job. These include Josh D’Amaro, head of Disney’s theme parks; entertainment co-chairs Dana Walden and Alan Bergman; and Jimmy Pitaro, chairman of ESPN.

Iger previously served as Disney’s CEO for 15 years before retiring at the end of 2021, when Chapek took over the role. However, in November 2022, Disney’s board dismissed Chapek and reinstated Iger as chief executive amid mounting challenges for the company.

In 2025, Iger’s total compensation amounted to $45.8 million, reflecting an increase of 11.5%. This package included $21 million in Disney stock awards, $14 million in stock options, a $7.25 million cash bonus, and $2.59 million in other compensation. The latter included $1.85 million for security and $568,670 for personal air travel.

Iger is also up for re-election to Disney’s board at the company’s 2026 annual shareholders’ meeting, where he will stand for a one-year term. The meeting is scheduled to be held virtually on 18 March.

In its proxy statement, Disney praised Iger’s leadership, saying he “has an unmatched knowledge of the Company and the creative content it produces, and an in-depth understanding of fostering innovation through technology and connecting to audiences in our markets around the world.”

When contacted, Disney declined to comment, according to Reuters.