Disney reveals timeline to replace CEO Bob Iger

Walt Disney Co. will name CEO Bob Iger's successor in early 2026, the company said Monday (Oct. 21).

Relatedly, the House of Mouse is also tapping Morgan Stanley executive James Gorman to serve as its next chairman early next year.

Gorman will become chairman on Jan. 2, 2025, the company revealed in a statement. He will succeed Mark Parker, executive chairman of Nike, who is leaving after serving on Disney’s board for nine years.

"The Disney Board has benefited tremendously from James Gorman's expertise and guidance, and we are lucky to have him as our next Chairman – particularly as the board continues to move forward with the succession process," said Iger in a statement. "I'm extremely grateful to Mark Parker for his many years of board service and leadership, which have been so valuable to this company and its shareholders, and to me as CEO."

The process to pick a new Disney CEO is ongoing, Gorman said.

"A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026. This timing reflects the progress the Succession Planning Committee and the board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger's contract in December 2026," he said in a statement.

Iger was the face of Disney for 15 years, achieving several entertainment and business wins, before he retired in 2020. But he returned to the company two years ago after the firing of CEO Bob Chapek.

Since returning, Iger has moved to reduce costs and restructure Disney's business model, including cutting 7,000 jobs.

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