The hottest roller coaster at Disney is, once again, the ride that ends with Bob Iger announcing his replacement. Succession drama has engulfed Disney for the better part of a decade, but questions around who will fill the shoes of the entertainment giant’s mythical CEO have grown louder in recent weeks. In late August, Disney announced that board member James P.
Gorman would lead the planning committee tasked with orchestrating the handoff of power between Iger and his heir. Gorman is executive chairman of Morgan Stanley and has experience as an architect of corporate dynasties. Roughly two weeks after Gorman was tapped, The New York Times published an impressive account of the implosion of Bob Chapek, who was elevated to CEO in 2020 after Iger retired the first time, only to be ousted by the board less than two years later.
The Chapek saga is a lesson in the dire consequences of botching the process — and an urgent reminder that Disney can’t afford to mess this up again. To be fair, the waters have been calmer lately. After a box office slump, Disney is raking in cash at movie theaters again (“Inside Out 2,” “Deadpool & Wolverine”).
And having launched buzzy shows like “Shōgun” and “Abbott Elementary” across Disney-owned brands like ABC, Hulu, FX and Disney+, the company took home a record-breaking 60 Emmys on Sunday. There are still problems to resolve — inflation is taking a toll across the company’s theme parks — but Iger’s return has insp.