Disney Will Name Bob Iger CEO Replacement In 2026, Taps Banker James Gorman As Chairman
ForbesOCT 12 2024
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.The Walt Disney Company on Monday announced plans to name a successor to CEO Bob Iger by early 2026, allowing for a transition period before Iger's contract ends in Dec. 2026.
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.In addition, Disney announced it appointed James Gorman, former CEO of Morgan Stanley, as its new board chairman, effective Jan. 2, 2025. He replaces Mark Parker, who is stepping down after nine years on the board.
The decision to push back the CEO announcement from the initial 2025 target to early 2026 is intended to allow more time for thorough vetting of both internal and external candidates.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 leadership transition at Morgan Stanley.
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The delay in announcing Iger's successor raises concerns about Disney's ability to execute a timely leadership transition and could potentially impact Disney's strategic planning and investor confidence. Previous chaotic succession attempts, including the short-lived tenure of Bob Chapek, signal that Disney is facing significant challenges in its search.TEST