Disney has appointed James P. Gorman, the executive chairman of Morgan Stanley, to chair its crucial succession planning committee, charged with selecting the company’s next CEO. Gorman has extensive experience in this area, having successfully overseen a similar process at Morgan Stanley.
Joining Gorman on the committee are Disney’s board chairman Mark G. Parker, and directors Mary T. Barra and Calvin R. McDonald. This committee will work diligently over the next few years as current CEO Bob Iger plans to step down in 2026. “James is a highly respected leader, and we’ve asked him to serve as the new Chair of the Succession Planning Committee given his deep succession planning experience and long-term strategic mentality,” Parker said. He highlighted the importance of this planning to Disney’s future and expressed eagerness to continue working with Gorman in this new capacity.
Gorman, who led Morgan Stanley as CEO from 2010 through 2023 and is set to step down as executive chairman in December 2024, has firsthand experience elevating future leaders. At Morgan Stanley, he guided the development of leaders like Ted Pick, Andy Saperstein, and Dan Simkowitz, with Pick ultimately being named his successor.
This special committee, formed in January 2023, has already met six times in the fiscal year 2024. They are evaluating both internal and external candidates, involving mentorship from Iger and external coaching to ensure a smooth transition. This comes after the previous CEO, Bob Chapek, parted ways with the company in November 2022, prompting Iger’s return.
On a recent episode of “Let’s Talk Off Camera With Kelly Ripa,” Iger emphasized his commitment to the succession process, saying, “To say I am obsessed with it would probably be an understatement,” as he aims to retire again.
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Source: Caitlin Huston
