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Disney has named a new team lead in its ongoing search to find a successor to Bob Iger.
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The Walt Disney Company has named James P. Gorman chair of its Succession Planning Committee, which is currently focusing on finding a replacement for longtime CEO Bob Iger. This new development was announced by Chairman of the Board Mark G. Parker.
Disney is reportedly seeking internal and external candidates for the job, with Iger’s contract ending in 2026.
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Bob Iger first became CEO of The Walt Disney Company in 2005 after working with ABC before joining the company. When Disney acquired ABC Entertainment, Bob Iger remained chairman, quickly becoming then-CEO Michael Eisner’s second-hand man.
Iger served as CEO until 2020, passing the torch to Bob Chapek, who was a longtime employee of The Walt Disney Company.
However, Disney would later terminate Chapek’s contract, with Bob Iger returning to serve as CEO in 2022.
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Gorman joined the Disney Board earlier this year and oversaw the progress of the succession 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 given his deep succession planning experience and long-term strategic mentality,” said Parker. “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.”
Directors Mary T. Bara and Calvin R. McDonald will continue to serve on the committee.
“I look forward to working alongside Mark and my other fellow Committee members in advising the Board as we continue to press forward expeditiously with this work,” Gorman said.
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This news follows comments made by the current CEO, Bob Iger, who revealed he has become “obsessed” with finding a replacement in a discussion on Kelly Ripa’s show “Let’s Talk Off Camera with Kelly Ripa.”
Well, I think it would be safe to assume that I think about this all the time. I could say that I’m obsessed with it would be probably an understatement and actually, the board and I established when I returned that that would be among our biggest, if not our biggest priority.
It’s actually something that I’m obviously very focused on, not just because of the past, but because I’d like to retire again and I’d like to leave the company in great hands, and that is my intention and I’m now confident that not only will we do that, but we’ll do so on a timely basis that works for the company and hopefully works for me as well, but yes. It’s a huge priority.
Bob Iger has arguably become Disney’s most influential CEO, leading the company through some of its most troublesome and rewarding times.
Under Iger, The Walt Disney Company acquired world-renowned brands and franchises like Marvel, the purchase of which will perhaps go down as one of the most critical business decisions of all time. Disney also purchased 20th Century Fox and Lucasfilm.
Disney’s theme parks expanded greatly under Iger, with incredibly detailed lands and attractions opening, like Pandora – The World of Avatar at Walt Disney World.
What do you think about Bob Iger’s leadership?
