James Gorman Named Disney Chairman

The Walt Disney Company has appointed James P. Gorman as its next Chairman of the Board, effective January 2, 2025, succeeding Mark Parker, who will depart after nine years of service. Gorman, currently the Executive Chairman at Morgan Stanley and Chair of Disney's Board Succession Planning Committee, will lead the search for a new CEO, expected to be announced in early 2026, ahead of Bob Iger's planned retirement at the end of that year. Iger expressed confidence in Gorman's leadership, emphasizing the importance of a smooth succession process following past challenges with CEO transitions at Disney. The board's decision comes amidst heightened scrutiny over succession planning, particularly in light of the previous ousting of Bob Chapek. Both Iger and Parker acknowledged Gorman's significant contributions since joining the board earlier this year, highlighting a renewed sense of strength for the company as it navigates this critical period.