Bob Iger has completed a transformative era at Disney, but the new leader inherits complex challenges.

One year ago, in March 2025, the long-awaited leadership change at The Walt Disney Company took place. After nearly two decades of managing the corporation in two separate periods, Bob Iger officially handed over the CEO position to Josh D’Amaro, who led the theme parks division. This power transition marked the end of one of the most influential eras in the history of the entertainment industry.

Bob Iger’s Strategic Vision: From Studio Crisis to Global Domination

Bob Iger made history at Disney with a series of revolutionary decisions that redefined the company. The most significant were strategic acquisitions: the company took control of Pixar, Marvel, and Lucasfilm, bringing in iconic characters—from Iron Man to Baby Yoda. These deals not only strengthened Disney’s position in film but also fueled the prosperity of theme parks and resorts.

A second key direction was the shift into the digital content consumption era. Bob Iger initiated the launch of Disney+, ESPN+, and bolstered Hulu’s market position. This decision proved critical amid the rapid decline of traditional television audiences.

Chairman James Gorman characterized Iger’s contribution as: “He stabilized the company, expanded its scale, and created an absolute giant of the industry.” Gorman also noted that the leader managed to preserve Walt Disney’s classic legacy, protecting legendary characters and key assets like ABC and ESPN.

Challenges of the Comeback Period: How Bob Iger Managed the Crisis

Bob Iger’s first resignation occurred in February 2020, but it soon became clear that his successor, Bob Chapek, was unprepared for upcoming challenges. His tenure coincided with the COVID-19 pandemic, financial losses in streaming, and a sharp political conflict with Florida’s governor. The company faced falling stock prices and loss of investor trust.

In November 2022, the board of directors made an extraordinary decision—to invite Bob Iger back as CEO. During his three-year return, he carried out a large-scale restructuring, including cutting unprofitable operations and reevaluating priorities. In one quarterly report, Iger noted: “When I returned, we faced many problems. But leading means not just fixing mistakes—it’s about preparing the company for the future.”

$60 Billion and the Transfer of Power: Preparing a New Generation of Leaders

A recovering Disney required bold investment decisions. Bob Iger approved a ten-year, $60 billion capital expenditure program aimed at modernizing theme parks, developing resort infrastructure, expanding the cruise fleet, and launching an ambitious project in Abu Dhabi.

This strategy was a key step in preparing for the leadership transition. Bob Iger intentionally developed Josh D’Amaro, encouraging him to implement large-scale expansion plans. This partnership led to D’Amaro becoming the ideal successor at a time when traditional cable TV revenues were rapidly declining.

High-Profile Deals and Confrontations: A Complex Legacy

The second period of Bob Iger’s leadership was less triumphant than the first. The most controversial decision was the acquisition of 21st Century Fox for $71 billion. Although this deal brought valuable franchises—Avatar, Deadpool, The Simpsons, and National Geographic— it also carried heavy debt burdens, poorly timed with the onset of the pandemic.

Another challenge was intense conflicts with activist investors and complex negotiations with unions. In 2023, Bob Iger managed to reach compromises with the Writers Guild of America and SAG-AFTRA, stabilizing Hollywood relations but also highlighting increasing pressure on the studio’s economic model.

The First Tests of the New Leadership: D’Amaro Inherits a Complex Landscape

In his first year, Josh D’Amaro faced a set of serious challenges left by Bob Iger. First, maintaining creative excellence amid intensifying competition in streaming. Animation studios, including Pixar, are struggling to release regular blockbusters, although recent releases like Zootopia 2 and Inside Out 2 set box office records.

Second, Disney needs to strengthen ESPN, which recently gained a 10% stake in the NFL through a new media contract. This partnership is critical for maintaining profitability of sports content in a changing media landscape.

Third, the new leadership must rethink the role of ABC—where Bob Iger started his career over fifty years ago. The traditional broadcast model continues to lose viewers, requiring innovative approaches.

Financial results remain under close investor scrutiny. Over the past fiscal year, Disney’s stock showed volatile dynamics, though long-term prospects related to park expansion and streaming growth remain optimistic.

The Era’s Summary: Bob Iger and His Impact on the Future

Josh D’Amaro, in his statement, emphasized gratitude to the board of directors and expressed deep appreciation for Bob Iger’s mentorship. This symbolizes an unprecedented leadership transition, during which an experienced leader not only departs but remains an advisor, guiding the company through its new phase.

Chairman James Gorman expressed confidence that the market has yet to fully appreciate the scope of Bob Iger’s contribution. “The stock price does not fully reflect what he has done. But that will change, and he deserves recognition,” Gorman said.

Today, a year after the leadership transfer, Bob Iger’s legacy continues to influence Disney’s strategic decisions. The company moves forward, building on the foundation laid by his visionary leadership, but facing new challenges of the digital age that require both preserving core values and bold innovation.