The Magic Kingdom is preparing for a royal transition! The Walt Disney Company has announced that James P. Gorman, a top executive from Morgan Stanley, will helm the succession planning committee tasked with finding Disney’s next chief executive officer. This exciting development follows Gorman’s addition to Disney’s board earlier this year, bringing with him a wealth of experience from similar roles at Morgan Stanley.
Gorman will be collaborating closely with Disney’s experienced panel, which includes current Board Chairman Mark Parker, GM’s Chief Executive Mary Barra, and Lululemon’s Chief Executive Calvin McDonald. Together, they are on a mission to discover and groom the next visionary leader who will continue Walt Disney’s enchanting legacy.
“We’re committed to ensuring seamless leadership continuity,” expressed Mark Parker. “Working with James on this endeavor is crucial as we strategically navigate the future of The Walt Disney Company.”
The urgency in finding a successor has been palpable, especially since Bob Iger’s dramatic return in 2022. Brought back to steer the ship after Bob Chapek’s brief tenure, Iger’s primary objectives include driving growth and mentoring the upcoming CEO. With names like Dana Walden, Alan Bergman, Josh D’Amaro, and James Pitaro being spotlighted as potential successors, the anticipation is definitely building.
Moreover, the succession planning has been a hot-button issue, especially after activist investor Nelson Peltz’s unsuccessful proxy campaign earlier this year. The shareholders have voiced their anticipation for a well-thought-out and successful CEO selection process, and the committee has risen to the occasion by meeting six times this fiscal year to meticulously review both internal and external candidates.
Disney enthusiasts, what are your thoughts on the succession plan? Who do you think should take the helm next? Share your ideas in the comments below and let’s keep the conversation going!
Source: Samantha Masunaga
