Movies

Disney says it will pick Bob Iger’s successor in early 2026

BBG News

As a seasoned cinema enthusiast with decades of industry insights under my belt, I must say that the news about Walt Disney Co.’s succession plan has piqued my interest. Being a child of the 80’s, I grew up with Mickey Mouse and his gang, so Bob Iger’s tenure has been quite personal to me.

According to a statement by The Walt Disney Company, they now plan to appoint Bob Iger’s replacement as CEO around early 2026, which is later than some analysts had anticipated.

On a momentous Monday, the media titan with headquarters in Burbank revealed an amended strategy. They also announced that James P. Gorman would assume the role of chairperson on their board, taking over from Mark G. Parker, who will depart in January, concluding his nine-year tenure.

Gorman, who serves as the executive chairman at Morgan Stanley, leads the Disney board’s team focusing on selecting and grooming the potential future CEO of Disney, as Robert Iger’s contract is due to end.

As I share this news, let me clarify that the updated timeline for the selection process is a testament to the significant strides our succession planning committee and board have made. This adjustment offers ample opportunity for a smooth transition to take place, ensuring everything is in order before Bob Iger’s contract ends in December 2026.

Apart from Gorman, the Succession Planning Committee, which also consists of directors Mary Barra, Calvin McDonald, and Parker (until his departure), convened six times during the fiscal year 2024. During these meetings, the board consistently deliberated on succession planning matters, as stated by the company.

Parker, being both executive chairman of Nike and drawing upon a wealth of his own experience, is skillfully leading the comprehensive hunt for our next CEO. This crucial task continues to be a major focus for the Board,” said James Gorman.

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2024-10-21 17:31

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