The former CFO of Disney slams Bob Iger's approach to succession planning: 'It's a real black mark'

• Former Disney board member and CFO Gary Wilson slammed Bob Iger's succession plans.
• "Iger has systematically eliminated any executive who could become a successor," Wilson told WSJ.

Former Disney CFO Gary Wilson has slammed Bob Iger's approach to succession planning.

"Iger has systematically eliminated any executive who could become a successor," Wilson told The Wall Street Journal, in a story published Wednesday. "To me it's a real black mark on Iger's record."

Wilson joined Disney in 1985 and stayed with the company for 21 years. He stepped down as CFO in 1990 but stayed on Disney's board until 2006.

Iger had previously backed Bob Chapek, who oversaw Disney's parks and resorts, as his successor. Former CFO Jay Rasulo and COO Tom Staggs were once also touted as potential successors, but they left the company in 2015 and 2016 respectively after Iger's tenure was repeatedly extended.

In 2020, Chapek took over from Iger as CEO. However, relations between the men soured and Chapek was ousted from the role in November 2022.

Chapek's abrupt departure saw Iger taking back the reins of the company less than three years after stepping down as CEO. Disney announced in July that it would be extending Iger's contract until the end of 2026.

Iger's return has been marred by multiple setbacks, with Disney struggling to land hits at the box office last year.

Disney's once-indomitable Marvel franchise seems to have lost its luster. Its latest entry, "The Marvels," made only $47 million in its opening weekend. The film's $197 million box office run made it Marvel Studios' lowest-grossing film ever.

"Quality needs attention to deliver quality, it doesn't happen by accident. And quantity, in our case, diluted quality, and Marvel has suffered greatly from that," Iger told journalist Andrew Ross Sorkin at The New York Times DealBook Summit last year.

Representatives for Iger did not immediately respond to a request for comment from Business Insider sent outside regular business hours.