Disney pushes CEO succession plan to 2026

The Walt Disney Co. has reportedly elected former Morgan Stanley CEO James P Gorman as Chairman of the Board of Directors. Gorman will assume the role early next year.

He succeeds Mark Parker who will reportedly step down from the board after nine years.

Gorman took over Disney’s succession planning committee to find Bob Iger’s successor by early 2026. The company said that it will give the new candidate ample time to learn from Iger before his contract ends.

Previously, Gorman served as Morgan Stanley’s Chief Executive Officer from 2010 to 2023 and Chairman from 2012 to 2023.

He joined the Firm in February 2006 and was named Co-President in December 2007.

Prior to Morgan Stanley, Gorman was with Merrill Lynch and was a senior partner at McKinsey & Co.

He also serves as a Director of the Council on Foreign Relations, Chair of the Board of Overseers of the Columbia Business School, and is a member of the Business Council.

He formerly served as a Director of the Federal Reserve Bank of New York, President of the Federal Advisory Council to the U.S. Federal Reserve Board, and Co-Chairman of the Business Committee of the Metropolitan Museum of Art. Gorman has been a Director of the Company since 2024.