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Bob Iger’s CEO replacement could come from outside Disney, but as a big fan, I have big concerns

Pabio November 13, 2024

The biggest job in the entertainment industry will be vacant in just over two years. Bob Iger prepares to resign againas CEO of The Walt Disney Company at the end of 2026. Who next CEO of the company this could be is far from clear. There are four very different candidates currently working at the House of Mouse who would be in the running, but it is possible that none of them end up getting the job.

It was previously reported that within Disney, the battle for CEO succession was between ESPN chief Jim Pitaro, Disney Experiences chairman Josh D’Amato and Walt Disney Studios co-chief executives Dana Walden and Alan Horn. However, a report in the Wall Street Journal this morning confirms something that had been suspected, namely that the Disney board of directors is studying possible candidates from outside TWDC. Electronic Arts CEO Andrew Wilson was specifically named as a potential choice.

As a huge Disney fan and frequent theme park visitor, I’m pretty heavily invested in this CEO search, and while I understand there’s potential value in bringing in someone from the outside, I have serious concerns.

I want a CEO who understands theme parks, movies, and merchandise and how they’re supposed to work together

Disney is a many-headed hydra very different from most entertainment companies. It’s a movie studio and also a theme park company. Much of its income comes not from either, but from the goods attached to it. There are simply no external candidates who have the right combination of experiences to understand how it all works, because no one does it like Disney.

To be honest, one of the main arguments against some internal Disney candidates is that they lack some of this knowledge as well. Josh D’Amaro, president of Disney Experiences, has been in the theme park business for years, but he’s certainly not an expert on the studio side. This was one of the big problems former CEO Bob Chapek encountered when he transitioned from Parks to CEO (as evidenced by settled since Black widow trial). Similarly, Disney Studio co-president Dana Walden has strong relationships within Hollywood but is not a theme park expert.

While these issues are potentially disqualifying for conglomerate members, any external candidate will have even greater disadvantages. Those who work there, even if there are things they don’t do knowalways understand how the business works and how the different pieces work together.

Disney doesn’t need new blood (yet)

The Walt Disney Company has only hired one outside CEO in its history. Michael Eisner was hired from his job at Paramount specifically because the Disney studio was struggling and needed new ideas. It was clear that the “status quo” at Disney was not working at the time.

However, the mega-corporation does not have this problem at the moment. The two best films at the box office 2024 movie calendar are both from the House of Mouse, and they each won a billion dollars. Disney theme parks continue to dominate and with the expansion plans at Disneyland and Disney World already announced, things will surely grow from there.

Bringing in someone from the outside now could very well bring new ideas that the company needs, but it could just as easily break what isn’t broken.

I want a CEO who cares about Disney as much as I do

Perhaps the biggest problem with an external candidate is that they are unlikely to come into the role with a passion for all things Disney. Although this quality cannot be precisely measured, I truly believe it matters as much as any knowledge of movie studio or theme park management.

Disney is unlike other entertainment companies, not only because it owns a dozen theme parks, but also because the Disney name matters to the average consumer in a way that few other brands matter. The company’s past CEOs have been very protective of the brand name, as many of those who held that position over the years knew Walt Disney personally.

Even those who never met him understood that they were following in his footsteps. Listen to Michael Eisner or Bob Iger speak and you can hear their passion for Disney. It’s not just that they want it to be a success, they want it to be Disney.

It’s not impossible for a new foreign CEO not to be passionate about Disney, which certainly happened to Michael Eisner, who drank the Kool-Aid (ate the Dole Whip?) very quickly. However, the most likely scenario is that someone who has never worked for Disney will treat it as if it were another company, which it is not. And that’s a big risk.

That’s not to say that every internal Disney candidate is a better option here. Dana Walden is a relatively recent addition to Disney, part of the Fox merger. How fully she embraced all things Disney is far from clear. ESPN is practically an island unto itself, so it’s unclear how much President James Pitaro feels like he works for the Mouse House.

Disney doesn’t need to remain stagnant. In fact, this absolutely shouldn’t be the case. However, any new CEO will make big changes simply because they are different people. What Disney is Matters.

Mondor Festival

Mondor Festival

Bob Iger’s CEO replacement could come from outside Disney, but as a big fan, I have big concerns

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Bob Iger’s CEO replacement could come from outside Disney, but as a big fan, I have big concerns

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