Disney Names James Gorman Head of Succession Committee

The Walt Disney Co.’s board named director James Gorman as chairman of its succession planning committee.

Succession has been a big issue for Disney. Replacing CEO Michael Eisner was messy before Bob Iger got the job in 2005. Iger’s replacement, Bob Chapek, was a washout , prompting Iger to return to the job in 2022.

When Iger, now 73, returned, he and the board said finding the company’s next CEO would be a priority.

Gorman, who joined the board this year, oversaw the process that found his own successor as CEO at Morgan Stanley, where he continues to serve as executive chairman.

“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 Disney board chairman Mark Parker, who had served as the head of the succession committee.

“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,” Parker said.

In addition to Gorman and Parker, Disney directors Mary Barra and Calvin McDonald will continue to serve on the succession committee.

The board has said it is reviewing internal and external candidates for the CEO post. Internal candidates are going through a preparation process that includes mentorship from Iger, external coaching, and engagement with all board directors.