The Walt Disney Company Board of Directors has named James P. Gorman as Chairman of the Board, effective January 2nd, 2025. Gorman, who is currently Executive Chairman of Morgan Stanley, will succeed Mark G. Parker, following his departure from the Disney Board after nine years of service.
Gorman is Executive Chairman of Morgan Stanley and will be stepping down from that role on December 31st, 2024. He is currently Chair of the Disney Board’s Succession Planning Committee. This committee is responsible for identifying the next chief executive officer of The Walt Disney Company by Bob Iger’s contract end of December 2026.
Parker expressed confidence in the appointment of Gorman: “James Gorman is an esteemed leader who has become an invaluable voice on the Disney Board since joining earlier this year, and I am extremely pleased that he has agreed to assume the role of Chairman upon my departure. 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,” said Parker, who is Executive Chairman of NIKE. “As I prepare to leave the Board to focus on other areas of my work, I am proud of Disney’s renewed position of strength and excited for the company’s future, and I want to thank my fellow directors, Bob Iger and his exemplary management team for their continued strong leadership and dedication.”
Iger echoed Parker’s comments, stating: “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. 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.”
Gorman expressed gratitude for the new opportunity, sharing: “I am honored and humbled to have the opportunity to serve as Disney’s Chairman at this important moment in the company’s history. In the short time I have had the opportunity to work with Mark, I have come to appreciate and deeply respect his authentic leadership, humility and intelligence. I know all Directors join me in saying we have been honored to serve with him as the Chairman of the Board.”
“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026. 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,” Gorman said.
Iger has pushed back retirement five times to continue to lead Disney, with his current contract as CEO running until December 31st, 2026.
Theme Park Correspondent for The DIS | Chloé loves kitschy dark rides, roller coasters, a good background area music loop, hot Butterbeer, and all things Halloween. You’ll mostly find her wandering around Orlando’s biggest theme parks snapping pics and sharing tips… or probably talking about The Great Movie Ride.
