• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Disney will name Bob Iger’s replacement in early 2026
Editor's Pick

Disney will name Bob Iger’s replacement in early 2026

by October 21, 2024
by October 21, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Disney has tapped James Gorman to replace Mark Parker as the company’s next chairman, effective in January, as the media giant lays the groundwork to name a successor for CEO Bob Iger in early 2026, the company said Monday.

Gorman joined Disney’s board less than a year ago and was named the head of the succession planning committee in August. He will continue to lead that committee after he takes over as board chairman from Nike Executive Chairman Parker.

“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 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.”

James Gorman. Yuki Iwamura / Bloomberg via Getty Images file

Parker will step down after nine years on the Disney board “to focus on other areas” of his work, according to a Disney statement. That includes spending more time working on Nike-related matters, according to a person familiar with the matter. Elliott Hill took over as Nike CEO last week, replacing John Donahoe.

Disney had initially targeted 2025 to announce a successor, as CNBC reported last year. Pushing the date back to early 2026 will give the board more time to conduct due diligence on both internal and external candidates, according to people familiar with the matter, who asked not to be named because the discussions are private.

Gorman has experience with succession planning: He oversaw the orderly transfer of power at Morgan Stanley, with Ted Pick succeeding him as CEO there at the start of this year.

Succession hasn’t been smooth at Disney. The board fired Iger’s handpicked successor, Bob Chapek, in November 2022 after a turbulent tenure that lasted less than three years. Iger returned to the CEO job, and now, Disney shareholders are eager to see a succession plan stick.

Iger’s four direct reports — ESPN Chairman Jimmy Pitaro, Disney Experiences Chairman Josh D’Amaro, and Disney Entertainment Co-Chairmen Dana Walden and Alan Bergman — have all interviewed with the succession committee in recent weeks, since Gorman took over in August, according to the people familiar.

Gorman said in a CNBC interview in March, before taking over as the board’s succession chair, that Disney was running a “forward-looking, forward-leaning, incredibly disciplined process.”

Still, while putting a specific timeline on naming a successor adds a bit of clarity to the search, it also means the question of who will take over for Iger will continue to hover over the company for another year.

Iger has pushed back his retirement five different times to continue to lead Disney as CEO. Activist investor Nelson Peltz focused on the board’s failure to name a lasting successor in his unsuccessful campaign to gain board seats earlier this year.

Iger’s current contract as CEO runs until Dec. 31, 2026. He and the board haven’t decided if Iger will extend his board tenure past 2026, said the people familiar.

This post appeared first on NBC NEWS
You Might Also Like
  • S&P 500, Nasdaq close at all-time highs ahead of inflation data and second-quarter earnings reports
  • Blaize partners with Korea Telecom to bring AI transformation to Industrial and Enterprise customers
  • U.S. payrolls increased by 150,000 in October, less than expected
  • Consumer price growth falls for 12th-consecutive month to 3%
Share
0
FacebookTwitterPinterestWhatsapp

previous post
DP Trading Room: Which is Better? SP600 (IJR) or Russell 2000 (IWM)
next post
Chick-fil-A is releasing its own entertainment app, with family-friendly shows and podcasts

You may also like

Why Amazon sellers and retailers are flocking to TikTok Shop...

December 3, 2024

Mortgage rates plunge to the lowest level in over a...

August 5, 2024

JPMorgan Chase CEO Jamie Dimon says DOGE ‘needs to be...

February 25, 2025

Employers added 206,000 jobs in June, as sturdy labor market...

July 8, 2024

Inflation looms large for consumers ahead of summer

June 13, 2023

Southwest Airlines pauses corporate hiring, most summer internships to cut...

January 15, 2025

Rite Aid chain reportedly could sell up to 500 stores...

September 28, 2023

Social Security now expected to run short on funds in...

May 7, 2024

Judge says he must still approve sale of Infowars to...

November 26, 2024

More than 1,400 U.S. flights have been canceled, with thousands...

January 18, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025
    • NBA star Russell Westbrook launches AI-enabled funeral planning startup

      May 7, 2025
    • Use This Multi-Timeframe MACD Signal for Precision Trades

      May 7, 2025
    • Judge allows lawsuit over Burger King’s Whopper ads to move forward

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,630 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,185 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,064)
    • Investing (538)
    • Stock (2,529)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against...

      May 7, 2025
    • NBA star Russell Westbrook launches AI-enabled funeral planning startup

      May 7, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,064)
    • Investing (538)
    • Stock (2,529)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Meet CrowdStrike, the company at the...

    July 20, 2024

    Nvidia CEO Jensen Huang warns China...

    April 30, 2025

    UAW reveals newest strike locations at...

    September 30, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here