The news: Disney is planning a smooth CEO transition after years of leadership uncertainty with Bob Iger’s postponed retirement and the unsuccessful handoff to Bob Chapek.

The board aims to name Iger’s successor in early 2026. Top internal candidates are reportedly head of experiences Josh D’Amaro and co-chair of Disney Entertainment Dana Walden, who have already presented their long-term plans. The selected finalist will shadow Iger before his contract ends in late 2026, as the board seeks to ensure stability and continuity across Disney’s key divisions.

A critical choice: The company’s top candidates represent two branching paths for the company.

• D’Amaro is considered the leading candidate, praised for his analytical skills, operational success, and strong ties with creative teams. He oversees Disney’s most profitable division—theme parks, consumer products, cruises, and video games—and reportedly plans to expand gaming and integrate game-engine technology, following Disney’s investment in Epic Games.
• Walden is highly regarded for her creative leadership in TV and streaming, improving streaming margins, managing creator relationships, and handling major distribution challenges. Her experience with Hulu, ABC, FX, and Disney Television Studios gives her a broad industry perspective.

Why it matters: Iger’s successor will inherit a challenging landscape. Disney aims to expand its global parks by $60 billion, revive its Marvel and Star Wars film franchises, compete for streaming subscribers, improve Disney+ margins, and navigate the decline of linear TV. The board’s choice will reveal its priorities in balancing creative renewal and operational discipline.

Disney’s streaming data highlights the challenge ahead. EMARKETER projects US Hulu subscription revenues will grow from $7.57 billion in 2023 to $9.03 billion in 2027, though growth will slow over time. Disney+ US subscription revenues are set to rise from $3.19 billion to $5.33 billion, with the fastest gains in 2024. Hulu’s ad revenues will return to positive growth the next two years, while Disney+ ad revenues climb from $0.59 billion to $1.42 billion, making it the company’s main source of streaming ad growth—and integrating With Hulu will put Disney's combined streaming ad revenues ahead of Netflix.

What comes next: Disney’s next CEO will oversee shifting growth drivers and face pressure for quick creative successes.

• Parks expansion requires flawless execution, Disney+ must boost reliable revenues, and film brands need revitalization.
• The succession decision will determine how Disney balances creativity, operational discipline, and streaming economics at a time when another rocky transition could be costly.