The Board of Directors of The Walt Disney Co. appointed Director James Gorman as Chairman of its Succession Planning Committee.
Succession has been a big issue at Disney. The replacement of CEO Michael Eisner was chaotic before Bob Iger got the job in 2005. Iger’s successor, Bob Chapek, was a flop, prompting Iger to run for the job again in 2022.
When Iger, now 73, returned, he and the board said the search for the company’s next CEO was the top priority.
Gorman, who joined the board this year, oversaw the process of finding his own successor as CEO at Morgan Stanley, where he continues to serve as executive chairman.
“James is a highly respected leader and we asked him to chair the Succession Planning Committee because of his extensive succession planning experience and long-term strategic mindset,” said Disney Chairman and CEO Mark Parker, who previously served as chair of the Succession Planning Committee.
“Succession planning is a top priority for the Board, and I look forward to continuing to work with James on the Committee as we advance the important work we have already done to find and prepare the next CEO of The Walt Disney Company,” said Parker.
In addition to Gorman and Parker, Disney directors Mary Barra and Calvin McDonald will continue to serve on the succession committee.
The board has announced that it will consider internal and external candidates for the CEO position. Internal candidates will go through a preparation process that includes mentoring by Iger, external coaching and discussions with all board members.
