Walt Disney Co. Expands CEO Search to Include External Candidates
Walt Disney Co. is expanding its search for a successor to CEO Bob Iger, considering external candidates as the company's board, led by incoming Chairman James Gorman, aims to stabilize the succession process. This marks a shift from an internal competition among Disney's top executives to a broader search, including external contenders such as Andrew Wilson, CEO of Electronic Arts Inc.
The company has partnered with executive search firm Heidrick & Struggles to evaluate potential external candidates, and at least two more contenders have been identified beyond Wilson. This decision comes as Gorman, set to take over as Chairman in January, pushes for a comprehensive review of candidates, signaling his intent to find the right leader to guide Disney beyond Iger's tenure.
The company has announced it plans to finalize its choice for the CEO role by early 2026, delaying its previous timeline. Wilson, who has previously discussed potential deals with Disney and even interviewed for a senior role at ESPN in 2018, remains a strong external contender. Recent talks have also explored partnerships between Electronic Arts and Disney's ESPN, although these discussions have yet to materialize into a deal.
Dana Walden, Alan Bergman, Josh D'Amaro, and Jimmy Pitaro. Each company manages significant areas of Disney's business, from streaming to theme parks.
The recent U.S. presidential election victory of Donald Trump has also introduced new uncertainties for Disney. Trump's criticism of Taiwan and potential changes in trade policies could impact Disney's strategic decisions, particularly regarding its international investments and partnerships.
Walt Disney Co stock gained over 10% year-to-date. Investors can gain exposure to the stock through SPDR S&P 500 SPY and iShares Core S&P 500 ETF IVV.
DIS stock is down 0.23% at $100.63 at the last check on Tuesday.