In a surprising change of events at Disney’s magical kingdom, the company has chosen James Gorman to take the reins as its next chairman, set to begin his role in January. Gorman, who’s only been on Disney’s board for under a year, now finds himself tasked with the critical role of steering the board and continuing the succession planning process for CEO Bob Iger’s eventual replacement. With Gorman’s impressive resume, including his leadership at Morgan Stanley, Disney seems hopeful that this transition will be smoother than the last, where Bob Chapek’s brief tenure left some tumult in its wake.
For outgoing chairman Mark Parker, this is the end of an era—one marked by his steady influence over Disney’s board during a time of significant change. Parker, who also serves as Nike’s Executive Chairman, is stepping down after nine years to shift his focus back to Nike, where Elliott Hill has just taken over as CEO. Meanwhile, Disney’s succession planning, now extending into early 2026, signals the company’s desire to avoid rushing the process, especially after the missteps of the past. The search has narrowed down to several internal candidates, all of whom have recently been interviewed.
As the countdown to Iger’s successor continues, questions linger. Will Disney be able to stick to the 2026 deadline this time around, or will Iger’s notorious delays repeat? With activist investors keeping a close eye and shareholders eagerly awaiting a smooth handover, Gorman’s stewardship will undoubtedly be under the spotlight. For now, it’s a waiting game, with the future leadership of the iconic entertainment giant hanging in the balance.
(Source: CNBC | Media Play News)
