The Walt Disney Company Board Names James P. Gorman as Chairman, Effective January 2, 2025
21 Octobre 2024 - 2:30PM
Business Wire
He Will Succeed Mark G. Parker, Who Is
Departing After Nine Years of Service on the Disney Board
Gorman Provides Update on Succession
Planning Process, Says Board Plans to Announce Disney’s Next CEO in
Early 2026
The Walt Disney Company (NYSE: DIS) Board of Directors (the
“Board”) has named James P. Gorman as Chairman of the Board,
effective January 2, 2025. He will succeed Mark G. Parker, who is
departing the Disney Board on January 2 after nine years of
service.
Gorman is Executive Chairman of Morgan Stanley and, as
previously announced, will be stepping down from that role on
December 31, 2024. He is currently Chair of the Disney Board’s
Succession Planning Committee, which is working to identify and
prepare the next chief executive officer of The Walt Disney
Company.
“James Gorman is an esteemed leader who has become an invaluable
voice on the Disney Board since joining earlier this year, and I am
extremely pleased that he has agreed to assume the role of Chairman
upon my departure. Drawing on his vast experience, James is
expertly guiding the extensive search process for a new CEO, which
remains a top priority for the Board,” said Parker, who is
Executive Chairman of NIKE, Inc. “As I prepare to leave the Board
to focus on other areas of my work, I am proud of Disney’s renewed
position of strength and excited for the company’s future, and I
want to thank my fellow directors, Bob Iger and his exemplary
management team for their continued strong leadership and
dedication.”
“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,” Iger said. “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.”
“I am honored and humbled to have the opportunity to serve as
Disney’s Chairman at this important moment in the company’s
history,” Gorman said. “In the short time I have had the
opportunity to work with Mark, I have come to appreciate and deeply
respect his authentic leadership, humility and intelligence. I know
all Directors join me in saying we have been honored to serve with
him as the Chairman of the Board.”
“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,”
Gorman said.
About the Succession Planning Committee
The Board’s Succession Planning Committee is chaired by Gorman
and includes directors Mary T. Barra and Calvin R. McDonald, as
well as Parker until his departure. The Committee and the full
Board continue to undertake a deliberate and thoughtful succession
planning process, including evaluation of transition structures and
organizational frameworks, and planning for potential impacts of
succession decisions across the Company. The Committee met six
times in fiscal 2024, consistently engaging with the full Board on
the substance of the decisions to be made. The Board discussed
succession planning at each of its regularly scheduled meetings in
fiscal 2024. The Committee and Board continue to review internal
candidates and external candidates.
About James P. Gorman
James P. Gorman is Executive Chairman of Morgan Stanley and has
announced that he will be ceding this role in December 2024.
Previously, Gorman served as Morgan Stanley’s Chief Executive
Officer from 2010 to 2023 and Chairman from 2012 to 2023. He joined
the firm in 2006 and was named Co-President in 2007. Before joining
Morgan Stanley, Gorman held executive positions at Merrill Lynch
and was a senior partner at McKinsey & Co. He serves as a
Director of the Council on Foreign Relations and is a member of the
Business Council. He formerly served as a Director of the Federal
Reserve Bank of New York and President of the Federal Advisory
Council to the U.S. Federal Reserve Board. Gorman has been a
Director of the Company since 2024.
About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and
affiliates, is a leading diversified international family
entertainment and media enterprise that includes three business
segments: Entertainment, Sports and Experiences. Disney is a Dow 30
company and had annual revenue of $88.9 billion in its Fiscal Year
2023.
Forward-Looking Statements
Certain statements and information in this press release may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including, among
other things, regarding changes to the Board of Directors,
succession, governance and other statements that are not historical
in nature. Any information that is not historical in nature
included in this release is subject to change. These statements are
made on the basis of views and assumptions regarding future events
as of the time the statements are made. The Company does not
undertake any obligation to update these statements. Actual results
may differ materially from those expressed or implied. Such
differences may result from actions taken by the Company, including
changes to the Board of Directors and business or governance
decisions, as well as from developments beyond the Company’s
control, including the factors set forth in the Company’s Annual
Report on Form 10-K for the year ended September 30, 2023 and
subsequent filings with the Securities and Exchange Commission.
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David Jefferson Corporate Communications
david.j.jefferson@disney.com (818) 560-4832
Kelvin Liu Corporate Communications kelvin.liu@disney.com (818)
560-3117
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