According to a report by the Wall Street Journal, Bob Iger is planning to step down as CEO of Disney before his contract expires on December 31, 2026. Iger has reportedly told associates that he is ready to relinquish his position and reduce his involvement in the company's day-to-day operations.

The Disney board of directors is expected to convene next week at the company's Burbank headquarters. A vote on Iger's successor is anticipated during the meeting. The company previously stated its intention to name Iger's successor in early 2026 and that Iger would remain in his role through the end of the year to ensure a smooth transition.

Sources familiar with Iger's thinking suggest he is eager to dedicate more time to personal interests, including his involvement with Angel City FC, a women's soccer team he co-owns with his wife, Willow Bay, the dean of the USC Annenberg School for Communication and Journalism. He has also expressed frustration with conflicts at ABC, including the brief suspension of late-night host Jimmy Kimmel. Iger reportedly believes that leaving before the end of his contract would provide his successor with a "fresh start".

The search for Iger's replacement has reportedly been narrowed to two internal candidates: Josh D'Amaro, Chairman of Experiences, overseeing theme parks, consumer products, and video games; and Dana Walden, Entertainment co-chairman and a veteran television executive. Both executives presented their visions for Disney's future to the board in August. D'Amaro is considered by many to be the frontrunner.

The succession process is being closely managed by Disney's board, led by former Morgan Stanley CEO James Gorman. Gorman had indicated in a letter to shareholders that potential CEO candidates have been evaluated and that the full board will make a determination soon.

Iger's return to Disney as CEO in 2022 followed a less successful tenure by his successor, Bob Chapek. Iger had previously served as CEO from 2005 to 2020, during which time he oversaw the acquisition of major properties such as Pixar, Marvel Comics, Lucasfilm, and Twentieth Century Fox. His second term has also faced scrutiny, including the firing and rehiring of Jimmy Kimmel and deals involving the use of Disney characters for AI.