Disney Names James Gorman Chairman

The Walt Disney Co. board named James Gorman — who is leading the committee to identify a successor to CEO Bob Iger — as chairman, effective Jan. 2, 2025.

Gorman will succeed Mark Parker, executive chairman of Nike, who is leaving the Disney board on Jan. 2 after nine years. Gorman is executive chairman of Morgan Stanley and as previously announced he will be stepping down from that role on Dec. 31, 2024.

He is currently chair of the Disney board’s succession planning committee, which is working “to identify and prepare the next chief executive officer of The Walt Disney Company,” the Mouse House said in a statement.

In addition to Gorman, members of the Disney board’s succession planning committee include directors Mary Barra and Calvin McDonald, as well as Parker until his departure at the beginning of 2025. According to Disney, the committee met six times in fiscal year 2024 and the full board discussed succession planning at each of its regularly scheduled meetings during the fiscal year. The company said the committee and the board “continue to review internal candidates and external candidates.”

“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,” said Parker, who is Executive Chairman of NIKE, Inc. “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.”

“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 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.”
“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.”