Disney has appointed James Gorman, former CEO of Morgan Stanley, as its new board chairman, effective January 2, 2025, replacing Mark Parker, who is stepping down after nine years on the board.
Gorman, who joined Disney's board less than a year ago, will continue to lead the succession planning committee, bringing his experience from overseeing a smooth leadership transition at Morgan Stanley.
The delayed announcement of Iger's successor raises concerns about the company's ability to execute a timely leadership transition. This prolonged uncertainty could potentially impact Disney's strategic planning and investor confidence. The history of chaotic succession attempts, including the short-lived tenure of Bob Chapek, highlights the challenges Disney faces in finding a suitable replacement for Iger.