Disney Sets CEO Succession Plan, Names New Chairman

Facts

• The Walt Disney Company on Monday announced plans to name a successor to Chief Executive Officer (CEO) Bob Iger by early 2026, allowing for a transition period before Iger's contract ends in December 2026.^[1][2]
• In addition, Disney announced it appointed James Gorman, former CEO of Morgan Stanley, as its new board chairman, effective Jan. 2, 2025. He replaces Mark Parker, who is stepping down after nine years on the board.^[3][1]
• Gorman, who joined Disney's board less than a year ago, will continue to lead the succession planning committee, bringing his experience from overseeing a leadership transition at Morgan Stanley.^[4][1]
• The decision to push back the CEO announcement from the initial 2025 target to early 2026 is reportedly intended to allow more time for thorough vetting of both internal and external candidates.^[3][1]
• Iger, who returned to Disney as CEO in November 2022 after previously leading the company from 2005 to 2020, has been focused on restructuring the business and cutting costs, including eliminating 7K jobs.^[5][2]
• Disney's board is considering internal candidates for the CEO position — including Disney Entertainment co-Chairmen Dana Walden and Alan Bergman, Disney Experiences Chairman Josh D'Amaro, and ESPN Chairman Jimmy Pitaro.^[1][3]

Sources: ^[1]NBC, ^[2]CBS, ^[3]New York Post, ^[4]Associated Press and ^[5]Business Insider.

Narratives

• Narrative A, as provided by CNBC. The extended timeline for naming a new CEO demonstrates Disney's commitment to a thorough and careful succession process. This approach allows for proper vetting of candidates and ensures a smooth transition, which is crucial for maintaining stability and continuity in leadership. Gorman's expertise in succession planning will be invaluable in guiding this process.
• Narrative B, as provided by Breitbart. The delay in announcing Iger's successor raises concerns about Disney's ability to execute a timely leadership transition and could potentially impact Disney's strategic planning and investor confidence. Previous chaotic succession attempts, including the short-lived tenure of Robert Chapek, signal that Disney is facing significant challenges in its search.