Gorman succeeds Mark Parker, who will leave Disney's board early next year, and says that Disney will name a new CEO in 'early 2026.'
The Walt Disney Co. is shaking up its boardroom, with former Morgan Stanley CEO James Gorman set to become chairman of the board of directors early next year.
Parker will officially leave his role at the end of this year, with Gorman taking over officially on Jan. 2. According to an SEC filing, Parker informed the board of his decision to step aside on Friday. “James Gorman is an esteemed leader who has become an invaluable voice on the Disney Board since joining earlier this year, and I am extremely pleased that he has agreed to assume the role of Chairman upon my departure. Drawing on his vast experience, James is expertly guiding the extensive search process for a new CEO, which remains a top priority for the Board,” said Parker in a statement.
“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 added. “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.
Parker exits after a tumultuous year for Disney’s board. In the spring, the company grappled with an activist proxy fight led by Nelson Peltz. Disney was, hoping to avoid a potential conflict of interest when her boas, Oracle founder Larry Ellison, takes over Paramount next year.The ‘Wicked’ Movie Soundtrack Is Available for Pre-Order — Here’s How to Snag the Limited-Edition Vinyl, CD and Fold-Out Poster. We use vendors that may also process your information to help provide our services.
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