Disney Needs to Keep This in Mind Amid Leadership Turnover
By Movieguide® Contributor
As disney paves the way for CEO Bob Iger’s replacement in 2026, James Gorman will step in for Mark Parker as next year’s board chairman.
“Gorman joined disney’s board less than a year ago and was named the head of the succession planning committee in August,” CNBC disney-ceo-succession-plan-board-chair.html">reported Oct. 21. “He will continue to lead that committee after he takes over as board chairman from Nike Executive Chairman Parker.”
Gorman currently disneycompany.com/james-gorman-disney-chairman-board/">serves as executive chairman for Morgan Stanley. He will cede his role come December so that he can direct disney’s board next year. He previously disney-ceo-replace-bob-iger">served as CEO of the Wall Street Bank for 14 years.
“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 disney-ceo-succession-plan-board-chair.html">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.”
“Parker will step down after nine years on the disney board ‘to focus on other areas’ of his work, according to a disney statement,” CNBC reported. “That includes spending more time working on Nike-related matters, according to a person familiar with the matter. Elliott Hill took over as Nike CEO last week, replacing John Donahoe.”
Originally, disney set 2025 as the year to find Iger’s successor. The push to early 2026 gives the board more time to scrutinize candidates.
“Gorman has experience with succession planning: He oversaw the orderly transfer of power at Morgan Stanley, with Ted Pick succeeding him as CEO there at the start of this year,” CNBC said.
Gorman skillfully handled the Morgan Stanley succession which corporate execs have praised him for, per disney-names-james-gorman-new-chairman-announce-next-ceo-early-2026-2024-10-21/">Reuters.
The last attempt at disney succession didn’t go over well. The board fired Iger’s last successor, Bob Chapek, in 2022, which led to Iger resuming his CEO role.
“No company knows the importance of choosing a good CEO more than Disney. After serving as CEO for 15 years, Bob Iger stepped down from the position in 2020, handing the reigns over to Bob Chapek. Two years later, Iger was back after Chapek failed to offer sufficient leadership. Though Iger was only meant to serve as an interim leader, his stay has been extended for the foreseeable future.”
When Iger stepped in for Chapek again, he slowed the company’s direction toward a left-leaning agenda.
He disney-and-bob-iger-still-face-the-war-against-woke">said previously, “The bottom line is that infusing messaging as a sort of No. 1 priority in our films and TV shows is not what we’re up to. They need to be entertaining.”
Iger, Gorman and the other chair members would be wise to hire a successor who has the same focus — entertainment, not agenda.
disney recently did a great job with INSIDE OUT 2 and is rebuilding a better track record when it comes to family entertainment. It’d be a huge shame for that to go downhill again.
“Iger’s four direct reports — ESPN Chairman Jimmy Pitaro, disney Experiences Chairman Josh D’Amaro, and disney Entertainment Co-Chairmen Dana Walden and Alan Bergman — have all interviewed with the succession committee in recent weeks, since Gorman took over in August, according to the people familiar,” CNBC reported.
Gorman said in March that the next disney’s succession will be a “forward-looking, forward-leaning, incredibly disciplined process.”
Iger, 73, has delayed his retirement five times to help run the mega-company.
“Activist investor Nelson Peltz focused on the board’s failure to name a lasting successor in his unsuccessful campaign to gain board seats earlier this year,” CNBC points out. “Iger’s current contract as CEO runs until Dec. 31, 2026. He and the board haven’t decided if Iger will extend his board tenure past 2026, said the people familiar.”
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