The Walt Disney Company has appointed James Gorman, former CEO and current executive chairman of Morgan Stanley, as its new chairman effective January 2, 2025. Gorman will replace Mark Parker and will lead the succession planning committee to find a successor for CEO Bob Iger, with an announcement expected in early 2026. This timeline allows for a smooth transition before Iger's contract expires in December 2026, a move seen as necessary after previous succession challenges. Iger, who has extended his tenure multiple times and returned as CEO in 2022 following the ousting of his successor Bob Chapek, remains committed to stepping down at the end of his contract. Internal candidates such as Dana Walden, Josh D’Amaro, Alan Bergman, and Jimmy Pitaro are being considered, along with external prospects. The decision to extend the timeline for naming a new CEO indicates Disney's careful approach to ensure a stable leadership transition.