In this article, Disney is relying on incoming board chairman James Gorman to establish a robust system for selecting the best possible successor for CEO Bob Iger. Some board members are optimistic that Gorman’s leadership may result in naming a successor earlier than the initially set deadline of early 2026, as per sources familiar with the situation cited by CNBC.
Last month, Disney disclosed that Gorman would assume the role of board chairman from Mark Parker, who also serves as Nike’s executive chairman, starting in January. This announcement grants Gorman a full year in the position before the deadline for appointing Iger’s replacement. The timeline allows the yet-to-be-identified successor to receive mentorship from Iger before his tenure concludes.
Parker opted to step down as board chairman to address challenges at Nike and facilitate Gorman’s transition. Gorman, who currently chairs the Disney board succession planning committee, is recognized for successfully managing a seamless succession process at Morgan Stanley. He implemented financial incentives to retain two executives who were contenders for the top position but were not selected.
The Disney board anticipates that Gorman will replicate this success at the media conglomerate to safeguard its top talent, according to sources familiar with the matter. The board has been engaging regularly with its four internal candidates: Entertainment Co-Chairmen Dana Walden and Alan Bergman, Disney Experiences Chairman Josh D’Amaro, and ESPN Chairman Jimmy Pitaro.
Additionally, Gorman is collaborating with a recruitment agency to identify and attract potential external candidates, including those from industries beyond media and entertainment, as per the sources. The Wall Street Journal reported on Tuesday that Disney is contemplating external candidates such as EA CEO Andrew Wilson, among others.
Although Wilson’s name has been mentioned, insiders suggest that the board is more inclined to select one of the internal candidates over Wilson. Despite speculation about the possibility of Disney appointing co-CEOs due to its diverse business portfolio, the board’s primary focus is on appointing a single chief executive, as indicated by the sources.
Disney declined to provide further comments beyond the October press release announcing Gorman as board chair. The company is scheduled to report earnings for its most recent quarter on Thursday morning.
