Walt Disney Co (NYSE:DIS, ETR:WDP) plans to announce its next CEO replacing Bob Iger in early 2026, the company said on Monday.
It also announced the appointment of James Gorman as chairman of the board, effective January 2, 2025.
Gorman is executive chairman of Morgan Stanley (NYSE:MS). He joined Disney’s board less than a year ago and is currently chair of the board's Succession Planning Committee, which will decide upon the company’s next CEO.
Gorman will replace Nike executive chairman Mark Parker, who is leaving Disney’s board after nine years. Parker is stepping down to “focus on other areas” of his work, Disney said.
“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 said in a statement.
“I’m extremely grateful to Mark Parker for his many years of board service and leadership, which have been so valuable to this company and its shareholders, and to me as CEO.”
Gorman commented that a critical priority for the board is appointing Disney’s next CEO, noting the expectation that this would be announced 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 said.
Iger served as Disney's CEO from 2005 to 2020. He returned to the top job in 2022, following the firing of his successor Bob Chapek.