The Walt Disney Company is undergoing a leadership transition, announcing that James Gorman, the current CEO of Morgan Stanley, will take over as its new chairman. Gorman will assume the role on January 2, 2025, succeeding Mark Parker, who is stepping down after serving on Disney’s board for nine years. This move signals Disney’s focus on leadership stability as it continues planning for the future.
CEO Bob Iger to Remain Until 2026
Despite the upcoming changes at the top, Disney CEO Bob Iger will remain in his role until the end of 2026. Iger, who returned to the company in 2022 after financial and leadership challenges under his successor Bob Chapek, will continue to guide the company through this transition. Disney has stated that it plans to announce Iger’s successor by early 2026, allowing for a smooth leadership handover.
James Gorman’s Experience in Succession Planning
James Gorman brings extensive experience to Disney, having overseen succession planning during his time as CEO and chairman at Morgan Stanley. Gorman has served on Disney’s board and currently chairs the company’s succession planning committee. His appointment as chairman is seen as a strategic move to ensure a stable transition process for the entertainment giant.
Iger Praises Gorman’s Leadership
Disney CEO Bob Iger expressed confidence in Gorman’s leadership, saying, “The Disney board has benefited tremendously from James Gorman’s expertise and guidance, and we are lucky to have him as our next chairman.” Iger, who led Disney for 15 years before his initial retirement in 2020, returned to the company to navigate financial challenges and strategic missteps under Chapek’s leadership.
CEO Transition Timeline Set for 2026
Gorman acknowledged the importance of the upcoming CEO transition, stating that naming Disney’s next leader in 2026 “will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026.” The company is continuing to review both internal and external candidates for the CEO position.
Disney’s Stock Performance Amid Leadership Changes
As Disney moves forward with its leadership transition, shares of the company slipped slightly, closing at $96.62 on Monday, down 66 cents or 0.7%. The company, based in Burbank, California, remains a global leader in entertainment, and investors will be closely watching the ongoing succession process and strategic direction.
