Bob Iger returned to Disney as CEO in November 2022, replacing Bob Chapek after only 11 months away. At the time, it was stated that Bob Iger’s tenure would be limited. Now, Disney has formally begun the search for a new CEO.
To locate the new CEO, Disney has appointed James P. Gorman to lead the search. Gorman just oversaw the succession process at Morgan Stanley.
“James is a highly respected leader, and we’ve asked him to serve as the new Chair of the Succession Planning Committee due to his extensive succession planning experience and long-term strategic mindset,” said Parker, the Committee’s previous Chair. “Succession planning is a top priority of the Board, and I am eager to continue collaborating with James on the Committee as we advance the important work we have already been doing to identify and prepare the next CEO of The Walt Disney Company.”
Gorman will chair a group that includes Disney directors Mary T. Barra and Calvin R. McDonald. All members of the new committee tasked with finding a replacement for Disney’s CEO have direct experience with CEO and senior leadership succession planning at Fortune 500 organizations.
Here’s how Disney says how it has begun the search for a new CEO:
In January 2023, the Board deepened and expanded its approach to CEO succession planning by forming a dedicated Succession Planning Committee to advise the Board and plan for a leadership transition that is consistent with the Company’s long-term strategic goals. At the Board’s direction, the Committee and the full Board continue to engage in deliberate succession planning, including the review of transition structures and organizational frameworks, as well as planning for the potential effects of succession decisions across the Company. The Committee has met six times thus far in fiscal 2024, continuously engaging with the full Board on the content of the decisions to be made. The Board has reviewed succession planning at each of its regularly scheduled meetings in fiscal year 2024. As stated in the Committee’s March 2024 letter to shareholders, the Committee and Board are examining both internal and foreign candidates. Internal candidates are undergoing a preparatory process that includes mentorship from Disney CEO Robert A. Iger, external coaching, and meetings with all Board members.
Radiant TV, offering to elevate your entertainment game! Movies, TV series, exclusive interviews, music, and more—download now on various devices, including iPhones, Androids, smart TVs, Apple TV, Fire Stick, and more.
