James Gorman Takes the Reins as Disney’s New Chairman
In a move signaling a new era for The Walt Disney Company, the Board of Directors has appointed James P. Gorman as the next Chairman, effective January 2, 2025. This appointment follows the departure of Mark G. Parker, who served on the Board for nine years. Gorman, currently the Executive Chairman of Morgan Stanley, is set to step down from that role on December 31, 2024.
Gorman’s transition to the Disney chairmanship marks a significant moment for the entertainment giant, especially given his current role as Chair of Disney’s Succession Planning Committee. This committee is actively engaged in identifying and preparing the next CEO for The Walt Disney Company.
“James Gorman is an esteemed leader who has become an invaluable voice on the Disney Board since joining earlier this year,” said Parker, who is also Executive Chairman of NIKE, Inc. “Drawing on his vast experience, James is expertly guiding the extensive search process for a new CEO, which remains a top priority for the Board.”
Parker, in his statement, highlighted Disney’s renewed strength and expressed optimism about the company’s future. He extended gratitude to the Board, CEO Bob Iger, and the management team for their dedication and leadership.
Echoing Parker’s sentiments, Iger emphasized the value of Gorman’s expertise and guidance: “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.”
Gorman expressed his gratitude and excitement: “I am honored and humbled to have the opportunity to serve as Disney’s Chairman at this important moment in the company’s history.” He acknowledged the contributions of Parker, praising his leadership and guidance during their time working together.
Looking ahead, Gorman emphasized the critical priority of appointing a new CEO, a process that is expected to be finalized in early 2026. This timeline, according to Gorman, reflects the progress made by the Succession Planning Committee and the Board, allowing for a smooth transition before Bob Iger’s contract ends in December 2026.
This appointment marks a pivotal moment for The Walt Disney Company, signifying a shift in leadership and highlighting the company’s commitment to a smooth and successful transition. With Gorman at the helm as Chairman and the active search for a new CEO underway, Disney is poised for continued growth and success in the coming years.