The Walt Disney Company Board of Directors has appointed James P. Gorman as the new Chairman of the Board, effective January 2, 2025. He will be taking over from Mark G. Parker, who has served on the Disney Board for nine years and will be stepping down on the same day.
James P. Gorman currently holds the position of Executive Chairman at Morgan Stanley and is set to resign from that role on December 31, 2024. He is also the Chair of the Disney Board’s Succession Planning Committee, which is responsible for identifying and preparing the next CEO of The Walt Disney Company.
Mark G. Parker, the outgoing Chairman of the Board, expressed his confidence in Gorman’s leadership abilities and praised his contribution to the Board since joining earlier in the year. Parker highlighted the importance of finding a new CEO and commended Gorman for leading the search process.
Bob Iger, the CEO of Disney, also expressed his gratitude towards Mark Parker for his service and leadership on the Board. He welcomed James Gorman as the new Chairman and acknowledged his expertise and guidance in the succession planning process.
In his statement, James Gorman expressed his honor and humility in taking on the role of Chairman and praised Mark Parker for his leadership qualities. Gorman emphasized the importance of appointing a new CEO, with the announcement expected in early 2026 to ensure a smooth transition before Bob Iger’s contract concludes in December 2026.
The Succession Planning Committee, chaired by Gorman, includes directors Mary T. Barra and Calvin R. McDonald, along with Mark Parker until his departure. The Committee and the Board are diligently working on the succession planning process, evaluating potential candidates both internally and externally.
James P. Gorman, a highly experienced executive, has a background in leadership roles at Morgan Stanley, Merrill Lynch, and McKinsey & Co. He has been a Director of The Walt Disney Company since 2024 and brings a wealth of knowledge to his new position as Chairman.
The Walt Disney Company is a prominent global entertainment and media enterprise with three main business segments: Entertainment, Sports, and Experiences. With annual revenue of $88.9 billion in Fiscal Year 2023, Disney continues to be a leading player in the industry.
In conclusion, the appointment of James P. Gorman as Chairman of the Board marks an important moment in Disney’s history. His leadership, along with the expertise of the Succession Planning Committee, will play a crucial role in shaping the future of The Walt Disney Company.
