Disney Will Name Bob Iger CEO Replacement In 2026, Taps Banker James Gorman As Chairman
ForbesOct 20
Disney Sets CEO Succession Plan, Names New Chairman
Above: Disney CEO Bob Iger Image copyright: Variety/Contributor/Variety via Getty Images on Sept.15, 2024
The Facts
The Walt Disney Company on Monday announced plans to name a successor to Chief Executive Officer (CEO) Bob Iger by early 2026, allowing for a transition period before Iger's contract ends in December 2026.
In addition, Disney announced it appointed James Gorman, former CEO of Morgan Stanley, as its new board chairman, effective Jan. 2, 2025. He replaces Mark Parker, who is stepping down after nine years on the board.
The Spin
Narrative A
The extended timeline for naming a new CEO demonstrates Disney's commitment to a thorough and careful succession process. This approach allows for proper vetting of candidates and ensures a smooth transition, which is crucial for maintaining stability and continuity in leadership. Gorman's expertise in succession planning will be invaluable in guiding this process.
Narrative B
The delay in announcing Iger's successor raises concerns about Disney's ability to execute a timely leadership transition and could potentially impact Disney's strategic planning and investor confidence. Previous chaotic succession attempts, including the short-lived tenure of Robert Chapek, signal that Disney is facing significant challenges in its search.