disney The media giant has named James Gorman as its next chairman, replacing Mark Parker starting in January, as the company prepares to name CEO Bob Iger’s successor in early 2026, the company said on Monday. Announced.
Gorman joined Disney’s board less than a year ago and was named chairman of the company’s succession planning committee in August. He will continue to lead the committee after taking over as chairman of the board from Nike Chairman Parker.
“The Disney board has benefited greatly from the expertise and guidance of James Gorman, and we are thrilled to have him as our next chairman, especially as the board continues to navigate the succession process,” Iger said in a statement. I’m lucky to be able to do it.” “Mark Parker’s many years of service and leadership on the board have been invaluable to this company, its shareholders, and to me as CEO, and I am extremely grateful.”
Parker is stepping down after nine years on the Disney board “to focus on other areas of work,” Disney said in a statement. This includes spending more time nikeAccording to a person familiar with the matter, the issue is related. Elliott Hill was named CEO of Nike last week, replacing John Donahoe.
Early 2026
As CNBC reported last year, Disney originally targeted a 2025 release date for the sequel. Pushing back the date to early 2026 will give the board more time to conduct due diligence on internal and external candidates, said the people, who requested anonymity because discussions are private. It is said that it is possible.
Mr. Gorman has experience in succession planning and oversaw an orderly transition of power at Morgan Stanley, where Ted Pick succeeded him as CEO earlier this year.
Disney’s succession planning process was not smooth. The board fired Mr. Iger’s hand-picked successor, Bob Chapek, in November 2022 after a checkered tenure that lasted less than three years. Mr. Iger has returned to his role as CEO, and now Disney shareholders are hoping that the succession plan will take hold.
Since Gorman took over in August, four of Iger’s direct reports have worked: ESPN Chairman Jimmy Pitaro, Disney Experience Chairman Josh D’Amaro, and Disney Entertainment Co-Chairmen Dana Walden and Alan. Bergman) have all met with their successor committees in recent weeks. Familiar people.
In an interview with CNBC in March, before becoming the board’s successor chairman, Gorman said Disney was moving forward with a “positive, positive and incredibly disciplined process.”
Walt Disney Company CEO Bob Iger will appear at the Disney Entertainment Showcase at D23: The Ultimate Disney Fan Event on August 9, 2024 in Anaheim, California.
Jesse Grant | Getty Images Entertainment | Getty Images
Still, while setting a concrete timeline for naming a successor will make the search a little clearer, it also means that the question of who will succeed Iger will continue to plague the company for another year. do.
Iger has postponed his retirement five times to continue leading Disney as CEO. Activist investor Nelson Peltz’s unsuccessful campaign to win a board seat earlier this year focused on the board’s failure to name a permanent successor. .
Iger’s current contract as CEO runs through December 31, 2026. Mr. Iger and the board have not yet decided whether to extend Mr. Iger’s tenure as director beyond 2026, the people said.
