James Gorman Updates Shareholders on Disney’s Succession Plan
Ahead of The Walt Disney Company’s 2025 Annual Meeting, Chairman of the Board James Gorman wrote a letter to shareholders reflecting on the state of the company.
“The Walt Disney Company delivered strong financial results for fiscal 2024, achieving notable strategic and creative milestones in each of the Company’s segments. This once again demonstrates the continued progress Disney’s world-class leadership team is making in executing on the Company’s strategic plan under Bob Iger’s exceptional leadership as Chief Executive Officer,” Gorman began.
The Walt Disney Company. Photo: Disney
“The Board is grateful for your support throughout the year. As we look forward, we have strong confidence in the management team’s plans for continued success.”
Disney’s Succession Plan
Speaking of Iger, Disney’s succession plan for the CEO position is undoubtedly at the front of investors’ minds. Anticipating this, Gorman reiterated that the Succession Planning Committee remains “actively engaged” in succession planning.
“As Chair of the Succession Planning Committee, I am focused on managing our succession process, and we have continued to make strong progress over the last year. In response to shareholder feedback, I was pleased to share an update on our expected timing to announce a CEO successor in early 2026,” he explained.
Bob Iger. Photo: Deadline
“The full Board is engaged in and committed to finding the right leader for the Company. We are planning for a smooth leadership transition that will enable Disney’s continued success.”
Continued Dialog With Investors
Outside of succession, Gorman also noted that Disney committed to having an ongoing dialogue with shareholders.
“In the calendar year 2024, Disney contacted more than 95% of our largest 25 institutional shareholders to discuss a wide range of topics, including Board oversight, management succession, executive compensation, and enhanced disclosures,” he explained.
The Walt Disney Company. Photo: Also Disney
“The Board and its committees discussed direct input received from investors during these conversations. This helped inform the fiscal 2024 decisions described throughout these proxy materials.”
Thanking Mark Parker
Finally, Gorman made sure to thank his predecessor, Mark Parker, who stepped down from his role late last year.
“Finally, on behalf of the entire Disney Board, I want to thank Mark Parker for his nine years of exemplary leadership and dedicated service to our shareholders and the Company. On a personal level, I would add that Mark has been a role model in the way he has guided me and chaired the Board with such grace, humility and intelligence,” he said.
Mark Parker. Photo: Disney
“As he departs the Disney Board, it is a privilege to serve as Chairman of this storied institution at such a significant moment in the Company’s history.”
Disney’s Annual Meeting of Shareholders will be held on Thursday, March 20, 2025, at 10:00 AM PT. The presentation will be webcast here.
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