Disney's CEO Succession: Gorman Takes Helm as Next Leader Looms
Monday, Oct 21, 2024 9:01 am ET
1min read The Walt Disney Company has announced that James P. Gorman will succeed Mark G. Parker as the new chairman of the board, effective January 2, 2025. This appointment comes as the company is in the midst of a critical succession planning process, with the expectation to announce the next CEO in early 2026. Gorman, who currently serves as the executive chairman of Morgan Stanley, brings a wealth of experience to the role, having previously served as the CEO and chairman of the investment bank.
Gorman's appointment as chairman is particularly significant given the ongoing search for Disney's next CEO. The company's current CEO, Bob Iger, has extended his contract until the end of 2026, and the board is committed to finding a suitable successor by then. The succession planning process is being led by Gorman, who chairs the board's Succession Planning Committee. This committee, which also includes directors Mary T. Barra and Calvin R. McDonald, is tasked with evaluating both internal and external candidates for the CEO position.
The delay in announcing the next CEO until early 2026 reflects the deliberate and thoughtful approach the board is taking in the succession planning process. This timeline allows ample time for a successful transition before the conclusion of Iger's contract. The ongoing search for both internal and external candidates is a testament to the board's commitment to finding the best possible successor for the company.
Gorman's experience in succession planning, particularly at Morgan Stanley, will undoubtedly be an asset to Disney as it navigates this crucial transition. His leadership style and strategic vision will play a significant role in shaping the company's future under the new CEO. As the board continues to move forward with the succession process, Gorman's appointment as chairman signals a renewed focus on finding the right candidate to lead Disney into its next chapter.
In conclusion, Disney's appointment of James P. Gorman as the new chairman of the board is a critical step in the ongoing succession planning process. With the expectation to announce the next CEO in early 2026, the company is committed to finding the best possible successor to lead it into the future. Gorman's experience and leadership will be invaluable in this process, ensuring a smooth transition for the company and its shareholders.
Gorman's appointment as chairman is particularly significant given the ongoing search for Disney's next CEO. The company's current CEO, Bob Iger, has extended his contract until the end of 2026, and the board is committed to finding a suitable successor by then. The succession planning process is being led by Gorman, who chairs the board's Succession Planning Committee. This committee, which also includes directors Mary T. Barra and Calvin R. McDonald, is tasked with evaluating both internal and external candidates for the CEO position.
The delay in announcing the next CEO until early 2026 reflects the deliberate and thoughtful approach the board is taking in the succession planning process. This timeline allows ample time for a successful transition before the conclusion of Iger's contract. The ongoing search for both internal and external candidates is a testament to the board's commitment to finding the best possible successor for the company.
Gorman's experience in succession planning, particularly at Morgan Stanley, will undoubtedly be an asset to Disney as it navigates this crucial transition. His leadership style and strategic vision will play a significant role in shaping the company's future under the new CEO. As the board continues to move forward with the succession process, Gorman's appointment as chairman signals a renewed focus on finding the right candidate to lead Disney into its next chapter.
In conclusion, Disney's appointment of James P. Gorman as the new chairman of the board is a critical step in the ongoing succession planning process. With the expectation to announce the next CEO in early 2026, the company is committed to finding the best possible successor to lead it into the future. Gorman's experience and leadership will be invaluable in this process, ensuring a smooth transition for the company and its shareholders.
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