Disney Will Name Its New CEO in 2026; James Gorman Replaces Mark Parker as Board Chairman
After months of speculation, it looks like we are finally getting some movement on Disney’s succession plan for CEO Bob Iger.
Today, the company announced that James Gorman will replace Mark Parker as its next board chairman, effective next January. Gorman, who joined the Disney board last year, has been overseeing the company’s succession planning committee since August.
HONG KONG, CHINA – NOVEMBER 07: James Gorman. (Photo by Hou Yu/China News Service/VCG via Getty Images)
“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.”
Parker, meanwhile, will step down from the Disney board “to focus on other areas,” Disney said in a statement. According to CNBC, that will include spending more time working on Nike-related matters.
“I am honored and humbled to have the opportunity to serve as Disney’s Chairman at this important moment in the company’s history,” Gorman said. “In the short time I have had the opportunity to work with Mark, I have come to appreciate and deeply respect his authentic leadership, humility and intelligence. I know all Directors join me in saying we have been honored to serve with him as the Chairman of the Board.”
The Question of Succession
With Bob Iger nearing the end of his second term as Disnsey CEO, the question of succession has been at the forefront of all Disney-related activity. While internal candidates, including Dana Walden, Josh D’Amaro, and Jimmy Pitaro, have been much discussed, Disney is also looking at exterior candidates.
NBC News
Gorman has experience in succession planning, having successfully handed off Morgan Stanley to his successor, Ted Pick, earlier this year.
In today’s statement, Gorman announced that Disney will name Iger’s successor in early 2026.
“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026. This timing reflects the progress the Succession Planning Committee and the Board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026,” Gorman said.
Photo: Disney
