Iger's tenure has faced turmoil and criticism from investors, culminating in a costly proxy battle with activist investors.

Following the announcement of the succession plan, Disney shares experienced a slight decline, closing at $96.18, although they remain up over 6% year-to-date.

Dana Walden is considered a leading candidate and would make history as the first woman to serve as CEO if selected.

Disney is set to announce a new CEO to succeed Bob Iger in early 2026 as part of a comprehensive succession plan.

Iger returned as CEO after Bob Chapek's departure, and there is increasing pressure from shareholders for a stable succession strategy.

The board is actively reviewing both internal and external candidates for the CEO position, with discussions on succession planning occurring at every fiscal 2024 meeting.

The succession committee has interviewed several candidates, including ESPN Chairman Jimmy Pitaro and Disney Experiences Chairman Josh D'Amaro, as well as four internal executives.

Potential internal candidates for the CEO role include Dana Walden, Josh D'Amaro, Jimmy Pitaro, and Alan Bergman, each bringing unique strengths to the table.

Despite establishing a timeline for succession, uncertainty about Iger's replacement will continue for another year.

The succession planning committee has met six times in fiscal 2024, discussing succession at each regular board meeting.

The announcement regarding the succession plan coincided with the naming of James P. Gorman as the new chairman of the board of directors.

The urgency of the succession issue was underscored during an activist investor proxy fight led by Nelson Peltz, who criticized Disney's board for its previous succession planning.