The Walt Disney Company has named James Gorman chairman of the board, a seat he will take starting Jan. 2. He succeeds Mark Parker, who is stepping down from the role after nine years, the company said Monday.
The company also said it is on track to replace Bob Iger in early 2026.
Gorman is currently chair of the Disney’s board’s succession planning committee, which is working to find a suitable replacement for Iger. The Australian-American executive is chairman of Morgan Stanley and its former CEO.
“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,” said Parker, whose departure was announced in January. “Drawing on his vast experience, James is expertly guiding the extensive search process for a new CEO, which remains a top priority.”
Gorman said he is “honored and humbled” at the opportunity to serve as board chairman, and thanked Parker for his tenure.
“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,” Gorman said. “I know all Directors join me in saying we have been honored to serve with him as the Chairman of the Board.”
Gorman, who first joined Disney as director earlier this year, has already announced he will be stepping down as Morgan Stanley executive chairman in December. He was CEO of the bank from 2010 to 2023 and Chairman from 2012 to 2023, and previously held executive positions at Merrill Lynch and McKinsey & Co.
Gorman also serves as a director on the Council on Foreign Relations, and was previously director of the Federal Reserve Bank of New York and president of the Federal Advisory Council to the U.S. Federal Reserve Board.
More to come …
