Disney names Gorman to serve as next chairman; anticipates naming new CEO in early 2026
Walt Disney Co. calls on the director of Morgan Stanley James Gorman to serve as the next chairman early next year. The entertainment giant also announced that it expects to appoint a new CEO in early 2026.
Gorman will become chairman on January 2, 2025. He succeeds Mark Parker, who is leaving after nine years on Disney’s board.
Gorman currently serves as chairman of Disney’s succession planning committee. He is executive chairman at Morgan Stanley, but will leave that position at the end of this year. Gorman served as CEO of Morgan Stanley from 2010 to 2023 and as chairman from 2012 to 2023.
Gorman has previous experience with succession planning, having overseen the process at Morgan Stanley.
βThe Disney board has benefited greatly from the expertise and guidance of James Gorman, and we are pleased to have him as our next chairman β especially as the board continues to move forward with the succession process,β said Disney CEO Bob Iger, Monday in a statement. .
Iger came back to Disney in 2022 after a period of collisionsmissteps and a weakening financial performance at the company under his chosen successor, Bob Chapek.
Iger was the public face of Disney for fifteen years, racking up a string of wins that were lauded in the entertainment industry and by Disney fans before retiring in 2020.
Gorman said in a statement that the appointment of Disney’s next CEO in 2026 will allow “plenty of time for a successful transition before the end of the new CEO.” Bob Iger’s contract December 2026.β
Disney continues to evaluate internal and external candidates for the CEO position.
The company’s shares fell 32 cents to $96.97 in morning trading.