The Walt Disney Co. (DIS) is apparently ready to turn the page on the Bob Iger era. According to Bloomberg, the board is moving toward promoting Josh D'Amaro, the company's theme park chief, to CEO and could vote on the decision shortly.

Why D'Amaro Makes Sense

D'Amaro, who's 54, has run Disney's theme parks and experiences division since 2020. That matters because this division isn't just important—it's the cash machine. Theme parks and experiences generate the bulk of Disney's profits, which gives D'Amaro serious credibility as he steps into the top job.

He's been with Disney since 1998 after starting his career at Gillette, so he knows the company inside and out. If the board gives him the nod, he'll be taking over from Iger, who originally ran Disney from 2005 to 2020 before coming back for a second stint in 2022.

Iger's Final Act

Iger has reportedly told people close to him that he's ready to step away from the daily grind of running Disney before his contract officially ends on December 31. According to the Wall Street Journal, he's been privately expressing frustration with internal drama, including conflicts at ABC tied to the brief suspension of late-night host Jimmy Kimmel.

The plan is for Iger to stick around for several months after a new CEO is named, helping mentor whoever takes over. He might even keep a role at the company or on the board after the transition, though the details are still being worked out.

Timing and Precedent

Disney is set to report fiscal first-quarter earnings on Monday, and the company has already said in regulatory filings that it plans to name a new CEO in early 2026. The annual shareholder meeting is scheduled for March 18.

There's some history here worth noting. When Iger stepped aside the first time in 2020, Disney announced Bob Chapek as CEO roughly two weeks before the annual meeting. So if the board is voting soon, the timeline tracks.

What Analysts Are Saying

Wall Street seems pretty comfortable with Disney's long-term trajectory, even if there's some near-term choppiness. Analysts are pointing to theme parks, cruises, and streaming as the key growth drivers going forward.

Barton Crockett at Rosenblatt Securities highlighted Disney's durable parks business, noting that international parks are showing accelerating growth even as U.S. parks start to moderate. Laura Martin from Needham said Disney's future increasingly depends on expanding theme parks and cruise ships, which means higher capital spending but also new revenue streams from upcoming ship launches and stronger bookings.

Michael Morris at Guggenheim Securities said management's guidance for double-digit earnings growth in fiscal 2026 and 2027 supports an optimistic long-term view, even with rising costs in the near term. And Goldman Sachs analyst Michael Ng added that while Disney may need to invest more heavily in content and streaming, those investments should pay off as the direct-to-consumer business matures.

DIS Price Action: Walt Disney shares closed 1.09% higher at $112.80 on Friday, according to market data.