Disney To Name Bob Iger's Successor In Early 2026

Disney has appointed former Morgan Stanley CEO James Gorman to replace Nike Executive Chairman Mark Parker as board chairman starting in January 2024, "as the media giant lays the groundwork to name a successor for CEO Bob Iger in early 2026," reports CNBC. Iger's contract has been extended until the end of 2026 to ensure the company finds the right fit. CNBC reports: Gorman joined Disney's board less than a year ago and was named the head of the succession planning committee in August. He will continue to lead that committee after he takes over as board chairman from Nike Executive Chairman Parker. "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 in a statement. "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." [...] Disney had initially targeted 2025 to announce a successor, as CNBC reported last year. Pushing the date back to early 2026 will give the board more time to conduct due diligence on both internal and external candidates, according to people familiar with the matter, who asked not to be named because the discussions are private.

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