Disney’s Gorman Takes the Helm as Chairman; New CEO Expected by Early 2026

ORLANDO, Fla. — The Walt Disney Co. has appointed Morgan Stanley executive James Gorman as its next chairman, effective January 2, 2025. Gorman’s selection marks a significant shift in leadership as he takes over from Mark Parker, who has served on Disney’s board for nine years.

Currently, Gorman is the executive chairman at Morgan Stanley but will resign from that position at the end of this year. His experience includes a lengthy tenure as Morgan Stanley’s CEO from 2010 to 2023. He also chaired the firm’s succession planning committee, which adds to his qualifications for this new role.

Disney CEO Bob Iger praised Gorman’s expertise, emphasizing the benefits Gorman’s leadership brings during the ongoing succession process. Iger, himself a pivotal figure in Disney’s recent history, returned to the company in late 2022 to stabilize its direction after a challenging period of financial performance.

In a strategic move, Disney anticipates announcing its new CEO in 2026, allowing for a seamless transition before Iger’s contract concludes in December 2026. The company continues to evaluate both internal and external candidates for this critical role.

On the stock market front, Disney shares experienced a slight decline, falling 32 cents to $96.97 in morning trading.