Iger should let someone else play Disney’s knight in shining armour

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Subscribe to enjoy similar stories. Walt Disney Company is putting the finishing touches on a multi-year storyline that has cast Bob Iger as the company’s knight in shining armour. Two years after Iger returned as chief executive officer (CEO) to save the company, Disney last week reported stellar results that exceeded analyst expectations and sent the stock up more than 6%—its biggest daily increase since February.

Disney’s closely watched streaming business swung to a $321 million profit from a nearly $400 million loss a year ago, and the film unit had what Iger said was one of the best quarters in its history thanks to Inside Out 2 and Deadpool & Wolverine. There are still big problems, such as the plummeting legacy cable TV business and weakness in the cruise and parks division. But the company feels confident enough in its comeback that it put out three-year guidance—a level of visibility Disney rarely provides.

It said adjusted earnings-per-share (EPS) growth will increase in the high single-digits its next fiscal year, and double-digits in 2026 and 2027. Iger, however, won’t be the one who has to deliver on some of these promises. His contract is set to expire at the end of 2026, and Disney has said it will finally name his replacement early that year.

Close watchers of the company have also noted that one of the reasons the film division’s numbers look so rosy is that the company pushed three troubled movies—Elio, Snow White and Captain America: Brave New World—to next year. “Disney blamed the strikes, which definitely played a role, but those movies could have come out later in ’24, underperformed, and derailed the Iger comeback narrative," writes Puck’s Matthew Belloni. Instead, “they’ll deal with the ’25 slate