Bob Iger’s second stint as CEO of Disney has officially come to an end, ending a years-long succession battle at the company.
At the media giant’s 2026 shareholder meeting held virtually on Wednesday, Iger passed the torch to incoming CEO Josh D’Amaro, a former head of parks, cruises and consumer products.
The usually formal meeting served not only as a toast to the Eiger but also as a platform to spotlight D’Amaro. In his remarks, D’Amaro indicated that he remains committed to the same principles that Iger adhered to as CEO, including leveraging Disney+ as the Mouse House’s primary gateway to connect with fans around the world.
“Disney+ will continue to evolve beyond traditional streaming services and become our digital core. It will be a portal that connects our stories, experiences, games, movies and more in entirely new ways,” D’Amaro told investors.
D’Amaro said the company is “working quickly to bring Disney+ and Hulu into a unified experience later this year,” which he predicted will “create even greater value for our subscribers and our business.” “Add ESPN to this and it’s a grand slam for consumers.” Last summer, the sports giant introduced ESPN Unlimited, a standalone streamer that includes all of the ESPN networks.
Mr. Iger gave a prerecorded farewell speech.
“I appreciate what an honor it is to be in this business,” Iger said. “I never imagined that I would become CEO of the Walt Disney Company.”
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When he first became CEO in 2005, he said, “At the time I didn’t fully realize how significant this journey would be,” but acknowledged that over the years Disney has “experienced extraordinary change” and faced significant challenges.
“I’ve always believed that leaders don’t create magic,” Iger said, adding, “My greatest privilege is being able to support that talent.”
Iger will retire at the end of 2021 after serving as Disney’s CEO for 15 years, and will be replaced by then-CEO Bob Chapek. However, in November 2022, the board fired Mr. Capek and reinstated Mr. Iger as chief executive officer.
“When I returned in 2022, people had lost faith in this company,” Iger said in comments Wednesday. More than three years later, Mr. Iger said, “I believe deeply in the future of this company because I believe in Josh D’Amaro and his management team.” Iger singled out Dana Walden, newly appointed as Disney’s first chief creative officer for film and television, and said she “will play a critical role” in “focusing on our most important initiative”: storytelling.
“We’ll be cheering on D’Amaro and Walden as they sail off into the sunset,” Iger said. “It meant more to me than words can express,” Iger said of his time as Disney’s CEO.
Mr. D’Amaro began his remarks by praising Mr. Iger, who cumulatively led Disney as CEO for nearly 20 years and began his career at ABC in New York in 1974.
“On behalf of Bob, our employees, Cast Members, shareholders, and fans around the world, I would like to thank you from the bottom of my heart for your incredible leadership, steadfast support, and countless contributions to The Walt Disney Company.” “You set a great example for all of us, and personally, I cannot thank you enough for your guidance and friendship over the years. You will be sorely missed.”
D’Amaro also said, “When Bob returned to the company several years ago, his goal was to strengthen our business and lay the foundation for long-term growth by reigniting creativity and improving studio performance, building a robust and profitable streaming business, transforming ESPN for a digital future, and accelerating our parks and experiences. We have accomplished all of that and operate with strength with ample opportunity for growth.”
Alluding to Paramount Skydance’s pending acquisition of Warner Bros. Discovery, D’Amaro said, “While others in the industry are consolidating just to compete or struggling to make a presence in a fragmented and chaotic world, Disney is the next generation of innovation and growth. “We are in a category that is poised to accelerate, and this next chapter will be driven by a continued focus on world-class creativity and enhanced by technology, delivering unforgettable stories to audiences everywhere.”
Earlier Wednesday, D’Amaro detailed his priorities in a first-day memo to Disney staff. The No. 1 quote is that “great storytelling and creative excellence remain our north stars,” underscoring his reliance on Dana Walden, who has assumed the new role of chief creative officer and will lead the company’s film and television division.
D’Amaro reiterated at the shareholder meeting that the company’s divisions will work together as “One Disney,” citing “there is no better example than Toy Story.”
Pixar’s original 1995 film was released more than a decade before Disney acquired Pixar and was “the first CG-animated feature that forever changed the way we watch movies.” Toy Story characters now live “everywhere our audiences are, from homes to hotels, theme parks and cruise ships around the world through Disney+ and consumer products. And when Toy Story 5 hits theaters in June, we’re expanding that world with a brand-new story that’s as exciting, fun and relevant as any movie before.”
D’Amaro also announced the name of Disney Cruise Line’s next ship, Disney Believe, which is expected to launch in late 2027. According to the company, the name “pays homage to dreamers and doers who have the courage to pursue their own happiness.”
Mr. Iger will remain employed by Disney until the end of 2026, and in that capacity will serve as a “senior advisor” to Mr. D’Amaro. In a strange coincidence, Mr. Iger, 75, and Mr. D’Amaro, 55, have the same birthday, February 10th.
At this meeting, Mr. Iger was re-elected to Disney’s board of directors for a one-year term. Shareholders also voted in favor of the remaining board members recommended by Disney, including chairman James Gorman and new board member Jeff Williams, former Apple chief operating officer. Shareholders also approved Disney’s executive compensation plan in an advisory vote.
At the shareholder meeting, Disney screened a heated reel of Mr. Iger’s time at the company, which he later shared on social media.
Iger then shared some of his farewell words on Instagram.
Above photo: Josh D’Amaro and Bob Iger attend Disneyland’s 70th anniversary celebration on July 17, 2025.
