The Walt Disney Company Board of Directors named James Gorman, the erstwhile CEO of Morgan Stanley, arsenic Chairman of the Board, the institution announced successful a statement connected Monday. The alteration takes effect connected January 2, 2025. Gorman is besides chair of the Succession Planning Committee moving to place a campaigner to switch Bob Iger arsenic CEO.
In the announcement, Disney outlined a timeline for naming longtime CEO Bob Iger's replacement. Iger will time off his position arsenic CEO erstwhile his statement ends successful precocious 2026.
"A captious privilege earlier america is to name a caller CEO, which we now expect to denote successful early 2026," Gorman said, successful the statement. "This timing reflects the advancement the Succession Planning Committee and the Board are making, and will let ample clip for a successful modulation earlier the conclusion of Bob Iger's statement successful December 2026."
Related: Bob Iger Returns arsenic Disney CEO and Bob Chapek Steps Down, Effective Immediately
Iger's successor was primitively expected to beryllium named successful 2025, CNBC reported past year.
Gorman is succeeding Nike Executive Chairman Mark Parker arsenic president of the Board.
James Gorman, president of Morgan Stanley, during a Bloomberg Television question and reply successful New York, US, connected Wednesday, Jan. 3, 2024. Yuki Iwamura/Bloomberg via Getty Images
"The Disney Board has benefited tremendously from James Gorman's expertise and guidance, and we are fortunate to person him arsenic our adjacent Chairman – peculiarly arsenic the Board continues to move guardant pinch the succession process," Iger said. "I'm highly grateful to Mark Parker for his galore years of Board work and leadership, which person been truthful valuable to this institution and its shareholders, and to maine arsenic CEO."
CNBC reports that the 4 executives who study straight to Iger person precocious interviewed pinch the succession readying committee. This includes Disney Experiences Chairman Josh D'Amaro, Disney Entertainment Co-Chairmen Dana Walden and Alan Bergman, and ESPN Chairman Jimmy Pitaro.
Related: Who Is Bob Iger, the Two-Peat Disney CEO Who Rules the Magic Kingdom
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