As Disney appoints a brand new chairman, the combat continues to discover a appropriate alternative for CEO Bob Iger. A successor should be named in 2026.
Disney has named former boss of Morgan Stanley James Gorman as its new chairman – set to start out his tasks early subsequent yr.
He’ll be successful Mark Parker, who has spent 9 years on Disney’s board.
Gorman prior to now served as Morgan Stanley’s CEO from 2010 to 2023 and chairman from 2012 to 2023.
Disney additionally defined on Monday a proper timeline for changing long-serving CEO Bob Iger.
Even if Iger had at the beginning deliberate to retire by way of 2015, he extended his keep till 2020.
In 2022, after a chain of blunders and fiscal disappointments at Disney, Iger returned – changing successor Bob Chapek.
Iger’s present contract results in December 2026, despite the fact that Gorman famous on Monday that there shall be “abundant time for a a success transition”.
Disney added in the similar commentary that discovering a alternative for Iger was once “a most sensible precedence for the board”.
The media large is continuous to study inner and exterior applicants for the placement.
New chairman Gorman has earlier succession making plans revel in, as he oversaw the appointment of a brand new CEO – Ted Select – at Morgan Stanley.
“The Disney Board has benefited greatly from James Gorman’s experience and steering, and we’re fortunate to have him as our subsequent Chairman – in particular because the Board continues to transport ahead with the succession procedure,” mentioned Iger.