Disney Announces New Leadership Plans with James Gorman as Chairman and CEO Transition Timetable
Disney has officially named James Gorman, the former CEO of Morgan Stanley, as its new chairman, effective January 2025. Gorman, who has been on Disney's board for less than a year, takes over from Mark Parker, and his first major responsibility will be leading the search for a successor to Disney's current CEO, Bob Iger. Iger, who has served as Disney's CEO for a total of 15 years before stepping down in 2020, was brought back in 2022 after his chosen successor, Bob Chapek, was dismissed. Iger's return to the helm came amid a tumultuous period for Disney, characterized by investor dissatisfaction and declining financial results. Iger's contract now runs through 2026, and the company expects to name his replacement in early 2026.
This change marks a critical moment for Disney as it navigates leadership transitions that will significantly shape its future. Gorman, known for his leadership at Morgan Stanley, where he turned the firm into a wealth management powerhouse, is expected to bring his deep expertise to Disney during this time of corporate transformation. His appointment as chairman reinforces the company's commitment to ensuring a smooth and strategic CEO transition, a priority emphasized by both Gorman and the outgoing chairman Mark Parker. Gorman has already been at the forefront of Disney's succession planning, and his experience managing similar transitions at Morgan Stanley makes him a valuable asset.
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The search for Iger's successor is already underway, with both internal and external candidates being considered. Among the leading contenders from within the company are Dana Walden, co-chair of Disney Entertainment, who is widely respected for her creative acumen and strong industry relationships, and Josh D’Amaro, chair of Disney Experiences, whose leadership of Disney's theme parks, the company’s most significant revenue stream, has made him a standout figure. Other potential candidates include ESPN’s chair, Jimmy Pitaro, and Alan Bergman, who oversees Disney’s film studio.
Iger, whose tenure has seen Disney grow into a global media giant with key acquisitions like Pixar, Marvel, and Star Wars, has had his retirement plans extended several times. However, with Gorman at the helm of the succession planning process, Disney now has a clear timeline for this leadership transition. Iger's final departure as CEO is expected to come at the end of his contract in December 2026, providing a stable period for a smooth handover to the new leadership team.
This leadership change is not just about finding a new CEO; it is about ensuring that Disney's strategic vision and business model continue to thrive in a rapidly changing media landscape. Investors and stakeholders alike are closely watching how Gorman’s leadership will guide the company through this pivotal phase, as Disney remains a cornerstone of global entertainment and innovation.
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