Disney (DIS, Financial) has announced plans to name a successor to current CEO Bob Iger by early 2026. This marks the first formal timeline for succession, signaling progress in Disney's leadership transition. Investors view this as a positive step forward.
In addition, James Gorman, former CEO of Morgan Stanley, will assume the role of Disney's board chairman on January 2, replacing Mark Parker. Gorman, recognized for his accomplishments at Morgan Stanley, including successful leadership transitions and expansion of the wealth management sector, will resign as Morgan Stanley's executive chairman at the end of the year.
Bob Iger expressed his enthusiasm for Gorman's appointment, emphasizing the benefits Disney's board will gain from Gorman's expertise during this pivotal time. Iger thanked outgoing chairman Mark Parker for his valuable contributions.
Disney's succession journey has been challenging. In November 2022, the board dismissed Bob Chapek, Iger's chosen successor, after a brief tenure. Iger then resumed the CEO role, extending his retirement date multiple times. Shareholders are hopeful for a reliable successor this time.
Analysts highlight the significance of Disney's progress in this critical matter, suggesting an actual transition for Iger in 2026 is on the horizon. However, discussions continue on whether Iger's tenure might extend beyond 2026.
James Gorman stated that finding a new CEO is a priority, with plans to announce by early 2026, ensuring ample time for a smooth transition before Iger's contract concludes.
Disney initially intended to reveal Iger's successor in 2025, but the timeline was adjusted to 2026 for thorough candidate evaluation. The board is actively reviewing options, considering both internal and external candidates. Potential successors include Disney executives Dana Walden, Alan Bergman, Josh D'Amaro, and Jimmy Pitaro.
