Summary by Moomoo AI
The Walt Disney Company has appointed James P. Gorman, Executive Chairman of Morgan Stanley, as its new Board Chairman effective January 2, 2025. He will succeed Mark G. Parker, who is departing after nine years of service. Gorman currently chairs Disney's Succession Planning Committee and will step down from his Morgan Stanley role in December 2024.As head of the Succession Planning Committee, Gorman is leading the search for Disney's next CEO, with an announcement expected in early 2026. This timeline will allow for a smooth transition before Bob Iger's contract ends in December 2026. The Committee, which includes directors Mary T. Barra and Calvin R. McDonald, is evaluating both internal and external candidates.Gorman brings extensive leadership experience to the role, having served as Morgan Stanley's CEO from 2010 to 2023 and Chairman from 2012 to 2023. He has been a Disney Director since 2024 and previously held executive positions at Merrill Lynch and McKinsey & Co.
