James Gorman Named Disney Board Chairman

Disney announced that James Gorman, former CEO of Morgan Stanley, will become the chairman of its board on January 2, 2025, succeeding Mark Parker, who is stepping down after nine years. Gorman's primary focus will be on finding a successor for CEO Bob Iger, with an announcement expected in early 2026, as Iger's contract runs until the end of that year. Gorman has been leading the succession planning committee since August and is recognized for his strategic leadership skills. Disney's previous succession attempt with Bob Chapek ended poorly, prompting shareholders to closely monitor the current transition process. Iger's extended tenure has allowed for a more careful evaluation of internal and external candidates for the CEO role. The company continues to express confidence in Gorman's ability to guide this crucial transition effectively.