The Walt Disney Company has named James Gorman, former Chief Executive Officer of Morgan Stanley, as the next chairman of its board, a pivotal move that takes effect on January 2, 2025. Gorman will replace outgoing chairman Mark Parker and is entrusted with one of the company’s most critical tasks: guiding the search for a successor to current CEO Bob Iger by the beginning of 2026.
This leadership shift marks a significant moment for Disney as it navigates a complex entertainment landscape and strives to maintain its global dominance across film, television, theme parks, and streaming. By selecting Gorman, a seasoned leader with deep financial acumen and a track record of successfully leading major transitions at Morgan Stanley, Disney signals its intent to bring disciplined oversight and long-term strategic thinking to its succession efforts.
Bob Iger, who returned as CEO in November 2022 after a brief retirement, was brought back to stabilize the company following a turbulent period under his successor, Bob Chapek. Iger’s unexpected return highlighted internal challenges related to leadership transitions and underscored the importance of a carefully managed succession plan. Gorman’s appointment reflects Disney’s renewed commitment to avoiding such disruptions in the future.
During his tenure at Morgan Stanley, Gorman led the bank through significant transformations, including its recovery from the 2008 financial crisis and its expansion into wealth management. His experience in leading through change and fostering growth is seen as particularly valuable as Disney looks ahead to potential organizational shifts and evolving market conditions.
In a statement, Disney emphasized the importance of continuity, governance, and forward-thinking strategy in selecting Gorman for the chairman role. His familiarity with high-stakes decision-making and boardroom dynamics is expected to provide stability and foresight as the company prepares for a new era of leadership.
The board’s choice also reflects growing pressure from investors and stakeholders who have called for a more transparent and structured CEO succession process. Disney, a company known for its storytelling magic, is now focusing on crafting a leadership narrative that is just as compelling and well-executed as the blockbusters it delivers.
As Disney embarks on this critical leadership transition, the spotlight is now on James Gorman to ensure that the company not only finds the right successor to Bob Iger but also lays a foundation for sustainable growth and innovation in an increasingly competitive entertainment industry.
