James P. Gorman, the chief chairman of Morgan Stanley, will chair Disney’s succession planning committee to pick the corporate’s subsequent CEO.
Gorman beforehand oversaw the succession course of at Morgan Stanley. Along with Gorman, Mark G. Parker, chairman of Disney’s board and administrators Mary T. Barra and Calvin R. McDonald will proceed to serve on the Committee. CEO Bob Iger has stated he’s stepping apart in 2026.
“James is a extremely revered chief, and we’ve requested him to function the brand new Chair of the Succession Planning Committee given his deep succession planning expertise and long-term strategic mentality,” stated Parker, who most lately served because the Committee’s chair. “Succession planning is a high precedence of the Board, and I’m desirous to proceed collaborating with James on the Committee as we advance the vital work we now have already been doing to determine and put together the subsequent CEO of The Walt Disney Firm.”
“I sit up for working alongside Mark and my different fellow Committee members in advising the Board as we proceed to press ahead expeditiously with this work,” Gorman stated.
Gorman, who was previously CEO at Morgan Stanley from 2010 via 2023, has introduced he will likely be stepping down from his position as government chairman at Morgan Stanley in December 2024. Whereas at Morgan Stanley, Gorman publicly elevated three leaders: Ted Choose, Andy Saperstein and Dan Simkowitz, with Choose in the end chosen by the board as the subsequent CEO.
The particular Succession Planning Committee was shaped in January 2023 and has met six occasions in fiscal 2024. The committee and the baord are within the strategy of reviewing inner and exterior candidates, in a course of that features mentorship from Iger, exterior teaching and dealing with the Board administrators.
Succession is a precedence at Disney after Bob Chapek was appointed as Iger’s successor, however parted methods with the corporate in November 2022, after two and a half years within the job. Iger returned to guide the corporate, with succession, in addition to a streaming income as his essential targets.
On a podcast episode of Let’s Speak Off Digicam With Kelly Ripa, launched Wednesday, Iger reiterated that he’s “very targeted” on succession and that he wish to retire once more.
“To say I’m obsessive about it could most likely be an understatement,” he stated.