STORY: Walt Disney has named former Morgan Stanley CEO James Gorman as chairman and said it would appoint a new CEO in early 2026.
The announcement sets the stage for succession at the storied media and entertainment company.
Gorman served as CEO of Morgan Stanley for 14 years and orchestrated a succession plan there in which all three candidates remained with the company.
He’ll become chairman of the Disney board in January after he steps down as executive chairman of Morgan Stanley.
Since August, he has been leading the committee looking for a successor to Bob Iger, who returned as the company’s CEO in 2022 to replace his hand-picked successor, Bob Chapek.
Iger is credited with building out Disney’s media empire including through the high-profile acquisitions of Pixar, Marvel and Star Wars, and has seen his retirement date extended five times.
Iger had initially planned to stay for two years after coming out of retirement but agreed to extend his tenure through 2026.
Reuters has reported that there are four Disney executives in the running for the CEO job including Disney Entertainment co-Chairman Dana Walden and ESPN chairman Jimmy Pitaro.
Shares of Disney were down fractionally in Monday morning trading.
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