James Gorman Named Disney Board Chair

Disney is preparing for a significant leadership transition as it announces James Gorman, CEO of Morgan Stanley, will replace Mark Parker as Chairman of the Board in January 2025. Gorman's appointment comes amid ongoing challenges in the media landscape and follows a tumultuous period that saw Bob Iger's return as CEO and the ousting of his predecessor, Bob Chapek. The search for Iger's successor has been extended to early 2026, allowing more time for a careful evaluation of both internal and external candidates, including several current Disney executives. Gorman emphasized the urgency of appointing a new CEO, stating that it remains a critical priority for the board. Iger's contract, which has faced multiple delays in retirement, runs through December 2026, adding to the complexity of the transition process. This leadership change reflects Disney's response to increasing competition from streaming services and the decline of traditional media outlets.