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- Disney said on Monday that James Gorman, a former CEO of Morgan Stanley, would be its new chairman.
- It also said it planned to announce a successor to CEO Bob Iger in early 2026.
- Iger returned to Disney as CEO in 2022, two years after stepping down.
Disney on Monday said that the former Morgan Stanley CEO James Gorman would become its new chairman and that it planned to announce a successor to CEO Bob Iger in early 2026.
Iger, who returned to the helm of Disney in November 2022, two years after stepping down as CEO, is contracted until December 2026.
"A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026," Gorman said in a statement. "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."
The Disney succession saga is one of the most closely watched in corporate America, and the 2026 announcement date is later than many in Hollywood expected.
Iger has had a hard time quitting Disney. He was the CEO from 2005 to 2020 and returned to the role in late 2022, cutting short Bob Chapek's leadership. In July 2023, Disney's board extended Iger's contract for two years, through the end of 2026.
Since then, speculation has swirled about four internal leaders who could succeed him. There's Dana Walden and Alan Bergman, who together lead Disney Entertainment — one of three core units that emerged from Iger's reorg. Also viewed as potential successors are Josh D'Amaro, the company's parks chief, and Jimmy Pitaro, the ESPN boss.
Disney said it was continuing to review external candidates as well.