Disney is set to appoint its fourth board chair in just over three years, as the company continues to navigate turbulence in the media industry. Chairman Mark Parker will step down at the end of 2024, with Morgan Stanley CEO James Gorman assuming the role in 2025.
Gorman, already chairing Disney’s succession planning committee, will lead efforts to find a replacement for CEO Bob Iger, who is set to depart in early 2026. Disney faces significant challenges, including declining linear TV revenues, streaming profitability, and economic concerns impacting its parks. Gorman’s leadership is expected to help steer Disney through these complex issues.
“I am honored and humbled to serve as Disney’s chairman at this pivotal moment,” Gorman said. Parker praised Gorman as an invaluable leader to guide the ongoing CEO search.
The next chapter of Disney’s leadership will be critical as the company balances legacy media decline and the growing dominance of digital platforms.
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