disney is looking to incoming board chairman James Gorman to put in place an ironclad system for identifying the best successor for CEO Bob Iger.
Given Gorman’s track record, some members of the board believe Gorman will lead the company ahead of the announced early 2026 deadline, people familiar with the matter told CNBC. He said he hopes to name a successor soon.
Disney announced last month that Gorman would succeed Mark Parker as chairman of the company’s board. Nike’s He will be appointed as executive committee chairman and will take office in January. With the announcement, Disney gave Gorman a full year before the deadline to name Iger’s successor. The schedule allows time for a yet-to-be-named successor to receive guidance from Mr. Iger before his term ends.
Mr. Parker is stepping down as chairman of the board to focus on Nike’s issues and make way for Mr. Gorman, who already chairs Disney’s board succession planning committee, the people said, speaking on condition of anonymity. He has decided to do so. Discuss internal issues.
Gorman, the former CEO of Morgan Stanley, is known for smoothing the succession process for his successor at the bank. He is credited with creating financial incentives to ensure that two executives who were considered for the top position but ultimately didn’t win stayed with the company.
Disney’s board expects Gorman to do the same at the media giant to avoid losing top talent, people familiar with the matter said.
Disney’s board meets regularly with four internal candidates: Entertainment Co-Chairmen Dana Walden and Alan Bergman, Disney Experience Chairman Josh D’Amaro, and ESPN Chairman Jimmy Pitaro. I’m going.
Mr. Gorman is working with a recruiting firm to identify and hire potential external candidates, including those in fields other than media and entertainment, the people said. The Wall Street Journal reported Tuesday that Disney is considering EA CEO Andrew Wilson, among other outside names.
Mr. Wilson’s name has also been floated, but the board is likely to choose one of its internal candidates over Mr. Wilson, the people said.
There has also been speculation that Disney may consider appointing a co-CEO to reflect the diversity of its business, but the board is said to be prioritizing identifying a single chief executive. said the people.
Disney declined to comment beyond the October press release announcing Gorman as chairman of the board. The company announced its most recent quarterly earnings on Thursday morning.
