Disney board appoints James P. Gorman as chairman, effective January 2025

The Walt Disney Company Board of Directors has named James P. Gorman as Chairman of the Board, effective January 2, 2025. Gorman will succeed Mark G. Parker, who will depart the Disney Board after nine years of service.

Gorman, currently Executive Chairman of Morgan Stanley, will step down from that role on December 31, 2024. He is also Chair of Disney’s Succession Planning Committee, which is responsible for identifying and preparing the next Chief Executive Officer of The Walt Disney Company.

“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,” said Parker, who is Executive Chairman of NIKE, Inc. “As I prepare to leave the Board to focus on other areas of my work, I am proud of Disney’s renewed position of strength and excited for the company’s future. I want to thank my fellow directors, Bob Iger, and the entire management team for their continued strong leadership and dedication.”

Iger added, “The Disney Board has benefited tremendously from James Gorman’s expertise and guidance, and we are fortunate to have him as our next Chairman, particularly as the Board continues with the CEO succession process. I’m extremely grateful to Mark Parker for his many years of service and leadership, which have been invaluable to the company and our shareholders.”

In accepting the position, Gorman stated, “I am honored and humbled to have the opportunity to serve as Disney’s Chairman at this important moment in the company’s history. In the short time I’ve worked with Mark, I have come to deeply respect his authentic leadership and intelligence. A critical priority for the Board is appointing a new CEO, which we expect to announce by early 2026. This timeline allows for a successful transition before Bob Iger’s contract concludes in December 2026.”

The Board’s Succession Planning Committee, led by Gorman and including directors Mary T. Barra, Calvin R. McDonald, and Parker until his departure, has been carefully evaluating internal and external candidates. The committee met six times in fiscal 2024, ensuring consistent progress on the CEO succession planning process, which was discussed at each Board meeting during the year.

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