On Monday, Disney announced a timeline for appointing a replacement to take over for their current and longtime CEO Bob Iger. Disney’s new leader will be announced in “early 2026” and assume control when Iger’s current contract is completed at the end of 2026. In addition, it announced that a search has begun for Iger’s replacement, which will canvas both internal and external candidates.
In addition, the chairman of Disney’s board of directors Mark Parker will step down from his position effective January 2, 2025, to be replaced by James Gorman, who is the current chair of Disney’s succession committee charged with identifying the new CEO. Parker is seen as a close ally and supporter of Iger, while Gorman has been universally praised for handling his succession as CEO at Morgan Stanley.
This is Disney’s second attempt at finding a suitable replacement for Iger, who served initially as the company’s CEO from 2005 to 2020 when he was replaced by Bob Chapek for a famously tumultuous run at the head of the company that only lasted for two years. When it was decided that would be removed, Iger agreed to step back into the position he had held before to stabilize affairs. However, Iger will turn 74 in February, and identifying his ultimate successor has become a priority once again.