Walt Disney has named Morgan Stanley veteran James Gorman as its new chairman, with plans to announce a new CEO to succeed Bob Iger in early 2026. The move marks a pivotal step in Disney’s leadership succession strategy.
Gorman, who will step down as executive chairman of Morgan Stanley at the end of 2024, will take on the Disney chairmanship in January 2025. He previously served as CEO of Morgan Stanley for 14 years, during which he transformed the bank into a wealth management leader. Under his leadership, Morgan Stanley orchestrated a successful succession plan that saw Ted Pick assume the CEO role, with Andy Saperstein and Dan Simkowitz also retained as candidates, a rare arrangement on Wall Street.
At Disney, Gorman has been leading the search for Iger’s successor since August 2023. Iger, who returned as Disney’s CEO in 2022 after a brief retirement, has extended his tenure multiple times. Originally planning to remain for just two years, Iger is now set to stay until 2026, when his contract concludes.
Gorman will succeed Mark Parker, who is stepping down after nine years as Disney chairman. Parker, who also serves as executive chairman of Nike, has decided to focus on other ventures.
“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,” Parker said in a statement.
Disney’s board has been actively discussing succession planning throughout fiscal 2024, with ongoing evaluations of both internal and external candidates.
