The Walt Disney Company has named James Gorman as its next chairman, and revealed plans to announce its new CEO in early 2026.
Effective 2 January 2025, Gorman will succeed Mark Parker, who is leaving the Disney board on the same date after nine years of service. Parker, executive chairman of Nike, was named Disney’s chairman in January 2023.
Currently, Gorman serves as executive chairman of Morgan Stanley, a role that he will step down from on 31 December.
He is also chair of the Disney board’s succession planning committee, which is working to identify a new CEO to replace Bob Iger.
Succession planning at Disney
“James Gorman is an esteemed leader who has become an invaluable voice on the Disney board since joining earlier this year, and I am extremely pleased that he has agreed to assume the role of chairman upon my departure,” said Parker.
“Drawing on his vast experience, James is expertly guiding the extensive search process for a new CEO, which remains a top priority for the board.”
Iger added: “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.”
Iger served as CEO of Disney from 2005 to 2020 and then returned to lead the company in November 2022 following the departure of Bob Chapek. Last year, Disney extended his contract until the end of 2026.
Gorman said: “I am honored and humbled to have the opportunity to serve as Disney’s chairman at this important moment in the company’s history.
“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026. This timing reflects the progress the succession planning committee and the board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026.”
Gorman joins Disney as the company prepares to spend $30 billion on its theme parks over the next decade as part of a total $60bn investment in its parks, experiences and products division.
Images courtesy of Disney
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