Disney to Name Iger’s Successor by Early 2026

On Monday, Disney announced that it plans to name a successor to current CEO Bob Iger by early 2026. The company also appointed former Morgan Stanley CEO James Gorman as its new chairman.

Gorman, who stepped down as Morgan Stanley’s CEO in 2023, joined Disney’s board earlier in the year and has been leading the succession planning committee to identify a replacement for Iger.

“A top priority for us is selecting a new CEO, and we expect to announce the decision by early 2026,” Gorman said. He will take over as chairman from former Nike CEO Mark Parker when Parker steps down on January 2.

Gorman added that this timeline reflects the progress made by the Succession Planning Committee and the Board, allowing sufficient time for a smooth transition before Iger’s contract ends in December 2026.

Iger, 73, returned as Disney’s CEO in November 2022 after previously serving in the role from 2005 to 2020. He had initially handed over leadership to Bob Chapek, but Chapek was removed shortly after. In July 2023, Iger’s contract was extended to the end of 2026, providing more time to complete what was originally expected to be a two-year tenure.

In April, Disney leadership successfully fended off a proxy challenge from billionaire investor Nelson Peltz, who criticized the company’s board for poor succession planning.

Disney’s stock dropped by 1.2 percent in early afternoon trading following the announcement.