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Gorman will become chairman on Jan. 2, 2025. He will succeed
Mark Parker, who is leaving after serving on Disney's board for
nine years.
Gorman is currently chair of Disney's succession planning
committee. He serves as executive chairman at Morgan Stanley,
but will be stepping down from that post at the end of the year.
Gorman previously served as Morgan Stanley’s CEO from 2010 to
2023 and chairman from 2012 to 2023.
Gorman has previous succession planning experience, as he
oversaw the process at Morgan Stanley.
“The Disney board has benefited tremendously from James Gorman’s
expertise and guidance, and we are lucky to have him as our next
chairman – particularly as the board continues to move forward
with the succession process,” Disney CEO Bob Iger said in a
statement on Monday.
Iger came back to Disney in 2022 after a period of clashes,
missteps and a weakening financial performance at the company
under his chosen successor, Bob Chapek.
Iger was Disney’s public face for 15 years, compiling a string
of victories lauded in the entertainment industry and by Disney
fans, before he retired in 2020.
Gorman said in a statement that by naming Disney's next CEO in
2026, it "will allow ample time for a successful transition
before the conclusion of Bob Iger’s contract in December 2026.”
Disney is continuing to review internal and external candidates
for the CEO position.
Shares of Walt Disney Co., which is based in Burbank,
California, slipped 66 cents, or 0.7%, to close Monday at
$96.62.
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