New York, January 25, 2026, 15:09 (ET) — The market has closed.
- Disney shares closed Friday roughly 2% lower, finishing at $110.98.
- A new proxy filing has revived talks of the CEO transition, with the board sticking to its plan to appoint a successor in “early 2026.”
- Next on deck: Disney’s fiscal first-quarter earnings, due Feb. 2.
Walt Disney shares dropped 2% on Friday, ending the day at $110.98. The stock fluctuated between $110.57 and $113.00, with roughly 10.8 million shares traded, as concerns over leadership resurfaced heading into the weekend.
As U.S. markets reopen Monday, investors face two key events that could shake stocks: the CEO transition and an earnings report due in early February.
The urgency is clear. Disney’s incoming CEO faces the challenge of managing theme parks, a revamped streaming approach, and changes at ESPN—all while Wall Street demands quarterly results.
The timing ramps up pressure on management’s messaging. Even a slight mention of succession, spending plans, or streaming economics could shift sentiment in a sector where growth and costs rarely follow a straight path.
Board chairman James P. Gorman said in the annual proxy that the full board “expect[s] to announce the appointment of the Company’s next CEO in early 2026.” The filing also scheduled Disney’s annual shareholder meeting for March 18, to be held virtually. 1
In a separate note, a regulatory filing revealed a minor insider sale. Disney Chief People Officer Sonia L. Coleman offloaded 2,473 shares on Jan. 22, fetching $114 each. The sale was executed under a Rule 10b5-1 plan, a pre-arranged trading strategy that helps companies avoid allegations of trading on inside information. 2
Investors remain focused on what direction the next CEO will take. Disney’s diverse lineup means a win in one area can be quickly undercut by troubles in another — whether it’s weaker park attendance, a volatile ad market, or climbing costs for sports rights.
On the flip side, if the succession drags out longer than shareholders anticipate or if the guidance comes in on the cautious side, Disney might lose its recent gains fast—particularly if the wider markets remain shaky.
Disney’s fiscal first-quarter 2026 earnings drop Monday, Feb. 2. The company’s executives will break down the results during a webcast starting at 8:30 a.m. ET. 3
