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Disney’s DIS+0.15% board of directors on Wednesday named James Gorman as chair of its succession planning committee, as the search for the next leader of the house of mouse heats up.
Current Disney DIS+0.15% CEO Bob Iger is step down from his role — for the second time — in 2026.
Gorman, Morgan Stanley’s MS+5.29% executive chairman, joined the Disney board earlier this year. He also oversaw a recent succession process at the investment bank.
“James is a highly respected leader, and we’ve asked him to serve as the new Chair of the Succession Planning Committee given his deep succession planning experience and long-term strategic mentality,” said Mark Parker, Disney’s board chairman, in a press release.
Directors Mary Barra and Calvin McDonald are set to remain on the committee. Parker previously served as the committee’s leader.
“I look forward to working alongside Mark and my other fellow Committee members in advising the Board as we continue to press forward expeditiously with this work,” Gorman said.
Iger, who has been with the media giant for four decades, served as its CEO from 2005 to 2020. He later became executive chairman before retiring in 2021. Iger returned to the company just a year later to serve a two-year term as CEO, which has since been extended. He is now expected to leave the company in 2026.
Disney said the committee is looking at both internal and external candidates.
Additionally, internal candidates are undergoing a preparation process that includes mentorship from Iger and external coaching.
The frontrunners for the role include Disney Entertainment co-chairs Dana Walden and Alan Bergman; Disney Experiences chairman Josh D’Amaro, and ESPN Chairman Jimmy Pitaro.
Iger’s succession had become a major sticking point in a proxy battle, which The Wall Street Journal reports could be the most expensive in history. Disney and Iger ultimately prevailed against activist investor Nelson Peltz who was looking to take two-seats on the company’s board.