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.

New York Post

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.

Associated Press

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.

The decision to push back the CEO announcement from the initial 2025 target to early 2026 is reportedly intended to allow more time for thorough vetting of both internal and external candidates.

Business Insider

Iger, who returned to Disney as CEO in Nov. 2022 after previously leading the company from 2005 to 2020, has been focused on restructuring the business and cutting costs, including eliminating 7K jobs.

Disney's board is considering internal candidates for the CEO position, including Disney Entertainment co-Chairmen Dana Walden and Alan Bergman, Disney Experiences Chairman Josh D'Amaro, and ESPN Chairman Jimmy Pitaro.

NBC #3152

New York Post #3394

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.

Associated Press #1666

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 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.

Business Insider #1422

CBS #2007

Iger, who returned to Disney as CEO in November 2022 after previously leading the company from 2005 to 2020, has been focused on restructuring the business and cutting costs, including eliminating 7,000 jobs.

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.

Breitbart

Breitbart #1134

Disney Announces When It Plans to Replace CEO Bob Iger

Disney names ex-Morgan Stanley CEO James Gorman its next chairman, aims to pick Bob Iger successor in 2026

Disney Sets CEO Succession Plan, Names New Chairman

United States of America

Finance

The extended timeline for naming a new CEO demonstrates Disney's commitment to a thorough and careful succession process. This approach allows for proper vetting of candidates and ensures a smooth transition, which is crucial for maintaining stability and continuity in leadership. Gorman's expertise in succession planning will be invaluable in guiding this process.

CNBC

Disney will name Bob Iger's replacement in early 2026; James Gorman to become board chair next year

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.

Variety/Contributor/Variety via Getty Images

Videos

Apps

Disney Sets CEO Succession Plan, Names New Chairman

Disney Sets CEO Succession Plan, Names New Chairman

The Facts

The Spin

Sign up to our daily newsletter