Get All Access for $5/mo

Disney Announces Major Executive Changes, Including When CEO Bob Iger Is Leaving. Here's What We Know. Morgan Stanley's former CEO James Gorman has been named the new Chairman of the Board.

By Erin Davis

Key Takeaways

  • Disney outlined a timeline for naming CEO Bob Iger's replacement.
  • Iger will leave his position as CEO when his contract ends in late 2026.
  • The Walt Disney Company Board of Directors also named James Gorman, the former CEO of Morgan Stanley, as the new Chairman of the Board.

The Walt Disney Company Board of Directors named James Gorman, the former CEO of Morgan Stanley, as Chairman of the Board, the company announced in a statement on Monday. The change takes effect on January 2, 2025. Gorman is also chair of the Succession Planning Committee working to identify a candidate to replace Bob Iger as CEO.

In the announcement, Disney outlined a timeline for naming longtime CEO Bob Iger's replacement. Iger will leave his position as CEO when his contract ends in late 2026.

"A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026," Gorman said, in the statement. "This timing reflects the progress the Succession Planning Committee and the Board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger's contract in December 2026."

Related: Bob Iger Returns as Disney CEO and Bob Chapek Steps Down, Effective Immediately

Iger's successor was originally expected to be named in 2025, CNBC reported last year.

Gorman is succeeding Nike Executive Chairman Mark Parker as chairman of the Board.

James Gorman, chairman of Morgan Stanley, during a Bloomberg Television interview in New York, US, on Wednesday, Jan. 3, 2024. Yuki Iwamura/Bloomberg via Getty Images

"The Disney Board has benefited tremendously from James Gorman's expertise and guidance, and we are lucky to have him as our next Chairman – particularly as the Board continues to move forward with the succession process," Iger said. "I'm extremely grateful to Mark Parker for his many years of Board service and leadership, which have been so valuable to this company and its shareholders, and to me as CEO."

CNBC reports that the four executives who report directly to Iger have recently interviewed with the succession planning committee. This includes Disney Experiences Chairman Josh D'Amaro, Disney Entertainment Co-Chairmen Dana Walden and Alan Bergman, and ESPN Chairman Jimmy Pitaro.

Related: Who Is Bob Iger, the Two-Peat Disney CEO Who Rules the Magic Kingdom

Erin Davis

Entrepreneur Staff

Freelance Writer

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

Leadership

Why Your AI Strategy Will Fail Without the Right Talent in Place

Using fractional AI experts through specialized platforms allows companies to access top talent cost-effectively, drive innovation and scale agile strategies for growth.

Business News

Here's What the CPI Report Means for Your Wallet, According to JPMorgan and EY Experts

Most experts agree that there will be another rate cut next week.

Growing a Business

Why Business Owners Should Streamline Their Operations Now for Success in 2025

As the holiday season and year-end approach, business owners face heightened operational demands, from inventory management to spend control. By streamlining these processes and partnering with flexible suppliers, businesses can maintain efficiency, meet customer needs and focus on growth while navigating this busy period.

Productivity

6 Habits That Help Successful People Maximize Their Time

There aren't enough hours in the day, but these tips will make them feel slightly more productive.