Bob Iger, CEO, The Walt Disney Company
Scott Mlyn | CNBC
Disney reappointed Bob Iger as its chief government not too long ago, abruptly changing his hand-picked successor Bob Chapek, and giving Iger an early purpose — discover a new substitute throughout the subsequent two years.
Iger’s consideration has shortly turned to the opposite a part of his mandate from the board — the fast challenges dealing with Disney’s business, reminiscent of the corporate’s reorganization, price construction and the longer term progress of its streaming business. But that hasn’t quelled hypothesis about who his successor might be.
Media trade executives and firm observers are placing collectively a roster of potential candidates Iger and the board will possible take into account in deciding whom to groom for the position subsequent. The pool of prospects embrace former Disney executives who had been beforehand thought-about the way forward for the Mouse House earlier than being handed over for Chapek, a number of inside rising stars and a few sleeper picks who’re both near the artistic neighborhood or have already got ties to the corporate.
Another chance some take into account is that Iger, whose return was applauded by Wall Street and workers, sticks round longer than his two-year contract.
Here’s a take a look at a few of the individuals who might be subsequent in line to guide Disney.
Calling up from the bench
Dana Walden, Chairman of Entertainment, Walt Disney Television speaks onstage throughout the twenty fifth anniversary of UCLA Jonsson Cancer Center Foundation’s “Taste for a Cure” occasion at Fairmont Century Plaza on April 29, 2022 in Los Angeles, California.
Rich Polk | Getty Images
Before calling Iger, Disney’s board thought-about a number of inside candidates to interchange Chapek, however finally determined they had been too new to tackle the varied pressures on the corporate, CNBC beforehand reported.
One of the candidates thought-about was Dana Walden, mentioned folks accustomed to the matter who weren’t licensed to talk publicly on the subject. She is the top of common leisure content material and accountable for creating unique leisure and news programming for Disney’s streaming platforms, broadcast and cable networks.
Walden’s been identified to have a hands-on position with content material creators. In Iger’s first memo to workers following his reinstatement, he talked about Walden as among the many high lieutenants who would work with him on Disney’s new construction, which might put “more decision-making back in the hands of our creative teams and rationalizes costs.”
“Disney will likely choose a successor that leads with talent relationship capabilities,” mentioned Eric Schiffer, CEO and chairman of Patriarch Organization and Reputation Management Consultants. “The downfall of Chapek is he maimed Hollywood relationships.”
One of the notable missteps made by Chapek throughout his fast flip as CEO was his dealing with of Scarlett Johansson’s pay dispute.
Walden took on her position in June after her boss, Peter Rice, was ousted after clashing with Chapek. Like Rice, Walden got here to Disney in 2019 as a part of the corporate’s acquisition of twenty first Century Fox’s property.
When she was promoted, Chapek had known as Walden “a dynamic, collaborative leader and cultural force who in just three years has transformed our television business into a content powerhouse.” At the time, Disney’s board had put its assist behind Chapek. Still, Walden lacks expertise on business choices, and has targeted her time on the artistic facet.
Meanwhile, Rice could also be desirous about returning to the corporate in some capability and has remained involved with Iger, folks near the matter mentioned.
Alan Bergman, Chairman, Walt Disney Studios Content
The Walt Disney Company by way of Getty Images
Alan Bergman, who’s been with Disney for greater than 25 years, is one other potential candidate, the folks have mentioned. He is the chairman of Disney’s studio content material and spearheaded the combination of Iger’s acquisitions into Disney’s general content material pipeline. He additionally was talked about in Iger’s first memo.
In addition, Bergman has rapport with many creatives in Hollywood. Disney depends on these relationships, and he may need a softer hand in coping with expertise and brokers than what was seen with the Chapek and Johansson dispute. Unlike different high executives at Disney, nevertheless, Bergman would not have expertise in lots of different divisions and has targeted a lot of his profession on studio content material.
Another Disney insider floated as a potential candidate has been Josh D’Amaro, folks accustomed to the corporate have mentioned.
D’Amaro is head of Disney’s parks, experiences and merchandise, the identical place Chapek held earlier than turning into CEO. His lengthy monitor report on the firm — he started his profession at Disney in 1998 and his positions have principally centered round resorts — may bode effectively for him.
As does his charisma. D’Amaro is mostly popular with his friends and the solid members on the parks and regarded a powerful chief. While there have been complaints by friends at Disney’s home parks that costs are steep and the ticket-reservation system is flawed, few have blamed D’Amaro. Instead, Chapek has taken the brunt of criticism, with friends and analysts assuming the previous CEO was chargeable for setting strict pointers for driving extra income on the parks and resorts.
Still, D’Amaro would not have the artistic expertise that Iger is usually lauded for. His resume is focused on the resorts and parks companies.
Rebecca Campbell, who’s at the moment accountable for Disney’s worldwide content material and operations, is one other candidate that Iger could favor, folks accustomed to the matter mentioned.
The government, who has labored in numerous divisions of the corporate after beginning on the native TV facet in 1997, can also be well-liked. However, whereas she additionally has expertise operating the streaming business in Disney+’s earlier days, she was faraway from the place and will not have the hands-on business expertise to make the robust choices dealing with the corporate’s media business.
If Campbell or Walden had been to ascend to the CEO place, it will be the primary time Disney had a girl within the high job.
A darkish horse candidate from throughout the group can be Sean Bailey, the president of Disney Studios, one observer mentioned. Bailey, who’s maintained a relationship with Iger, is popular with the artistic neighborhood.
Outside prospects
Kevin Mayer, co-founder and co-chief government officer of Candle Media, chairman of DAZN Group, speaks on the Milken Institute Asia Summit in Singapore, on Thursday, Sept. 29, 2022.
Bryan van der Beek | Bloomberg | Getty Images
Kevin Mayer and Tom Staggs had been former Disney executives who had been additionally within the operating for the job earlier than Iger settled on Chapek in early 2020.
Both left the corporate after being handed over. Many had pegged Mayer particularly because the possible successor. His title has as soon as once more floated again to the highest of the listing.
“This problem didn’t have to happen,” Engine Gaming and Media Executive Chairman Tom Rogers mentioned on CNBC not too long ago, ticking off the attributes wanted for somebody on this position, reminiscent of understanding the media business, a streaming monitor report, means to construct up franchise content material and being a deal-maker.
“They had that person, it was Kevin Mayer,” mentioned Rogers, the previous president of NBC Cable. “They still have that person, he’s still the right choice. The board made a mistake, I hope they don’t make that mistake again.”
Mayer had been Disney’s longtime head of technique, and was concerned in offers just like the twenty first Century Fox acquisition.
Before Mayer left, he had some of the necessary jobs on the firm — creating and launching Disney+. Since leaving Disney, he had a brief stint as CEO of TikTok and later joined billionaire Len Blavatnik’s funding agency Access Industries and have become chairman of sports activities streamer DAZN.
Mayer and Staggs additionally run the leisure startup Candle Media, the place they’ve flexed their M&A expertise with current offers like Reese Witherspoon’s Hello Sunshine and youngsters’s content material maker CoComelon.
For Mayer or Staggs to return to Disney, Iger would possible have to accumulate Candle Media. Mayer has excellent obligations to acquired corporations and has little interest in leaving his present job, based on folks accustomed to the matter. It’s potential Iger may see CoComelon as a great mental property match for Disney+, though Iger mentioned at a city corridor Monday he is not desirous about any mergers or acquisitions for Disney within the close to future.
Somewhat exterior of the Disney bubble, Mattel CEO Ynon Kreiz might be one other contender, the Disney observer famous. Kreiz has bought two corporations to Disney: Fox Kids Europe, which bought a majority stake to Disney in 2001, and Maker Studios in 2012.