Disney mentioned Monday it should title Bob Iger's successor as CEO in early 2026, whereas naming former Morgan Stanley CEO James Gorman as president of the leisure big.
Gorman, who steps down as Morgan Stanley CEO in 2023, was named to Disney's board of administrators earlier this yr and has been main a succession planning committee to decide on a substitute for veteran Iger.
“A important precedence earlier than us is to call a brand new CEO, which we now anticipate to announce in early 2026,” mentioned Gorman, who will succeed former Nike CEO Mark Parker as chairman when Parker steps down on Jan. 2.
“This timing displays the progress being made by the Succession Planning Committee and the Board, and can permit enough time for a profitable transition previous to the conclusion of Bob Iger's contract in December 2026,” Gorman mentioned in a press launch.
Iger, 73, rejoined Disney as CEO in November 2022, after serving as CEO from 2005 to 2020. He briefly handed the reins to Bob Chapek earlier than the latter was ousted.
In July 2023, the corporate prolonged Iger's contract via the tip of 2026, giving him two extra years for a process that had initially been deliberate as a two-year job.
In April, Disney leaders efficiently fended off a proxy problem from billionaire investor Nelson Peltz, who had criticized Disney's board of administrators for botched management planning.
Disney shares fell 1.2 % in early afternoon buying and selling.
Disclaimer: This story was printed from a information company feed with minimal modifications to adjust to the WION model information. The title could have been modified to higher replicate the content material of the story or to make it extra appropriate for WION's viewers.