Change in the Disney Board of Directors: James Gorman Takes over as Chairman

(eap) Effective January 2, 2025, James Gorman, who is stepping down from his position as Executive Chair at US financial institution Morgan Stanley at the end of this year, will take over as Chairman of the Walt Disney Company’s Board of Directors. Gorman, who is currently Chair of the Disney Board’s Succession Planning Committee for CEO Bob Iger, will take over from Mark Parker, Executive Chairman of sporting goods manufacturer Nike, who has served as Chair of the Disney Board since 2016. Under Gorman’s leadership, a successor is to be selected by early 2026 for long-time Disney CEO Bob Iger, who returned to the helm of the Disney Group in 2022 after an initial attempt to retire. Under his leadership, the acquisitions of the Star Wars franchise as well as Pixar and Marvel were made, among others, which turned Disney into a huge media empire.

“I am honored and humbled to have the opportunity to serve as Disney’s Chairman at this important moment in the company’s history,” Gorman said. “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 explained.

Mark Parker: “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. 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.” ■