Disney Announces Timeline for CEO Succession Following Bob Iger’s Tenure. The Walt Disney Company has revealed its timeline for announcing the successor to long-serving CEO Bob Iger, although the company has not yet disclosed who will take over the esteemed position.
Succession Announcement Scheduled for 2026:
In a recent announcement, Disney stated that it expects to unveil Iger’s successor in early 2026. This update comes as the entertainment giant prepares for a significant leadership transition after Iger’s impactful tenure.
New Board Chairman Appointed:
Alongside the CEO succession news, Disney’s board of directors has appointed James Gorman, the executive chairman and former CEO of Morgan Stanley, as its new board chairman, effective January 2, 2025. Gorman will step down from his role at Morgan Stanley before assuming his new responsibilities at Disney, replacing Mark Parker, the executive chairman of Nike.
Bob Iger expressed his confidence in Gorman’s leadership, stating, “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 also took the opportunity to thank Mark Parker for his valuable years of service and leadership.
Ongoing CEO Selection Process:
James Gorman commented on the ongoing search for a new CEO, emphasizing its critical importance. “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,” he stated.
Iger’s Legacy and Recent Challenges:
Bob Iger has been a central figure at Disney for 15 years, celebrated for his leadership and strategic vision that have propelled the company to new heights. He initially retired in 2020 but returned in 2022 following the dismissal of Bob Chapek as CEO.
During his latest tenure, Iger has focused on restructuring the company and reducing costs, including the elimination of 7,000 jobs. Additionally, he successfully navigated a proxy battle with activist investor Nelson Peltz, who sought a seat on Disney’s board in 2024.
As the company gears up for this significant transition, all eyes will be on Disney’s leadership decisions and the direction it will take in the coming years.
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