Media and entertainment giant Disney revealed that it will announce its new CEO in “early 2026.” The company’s current CEO, Bob Iger, is under contract until December 2026.
The timeline was unveiled during the introduction of former Morgan Stanley top executive James Gorman as a new chairman. Gorman will take over the position from Mark Parker, former CEO of Nike, who is stepping down in early 2025 after nine years in the role.
Gorman said in a press release that the company’s “critical priority” is to appoint a new CEO and wants to allow them enough time for a successful transition from Iger’s regime.
“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026,” Gorman said in a press release. “This timing reflects the progress the Succession Planning Committee and the Board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026.”
Gorman’s statement is in line with Iger’s previous comments about focusing on identifying the person who will run the company in the future. During a recent interview, Iger said that identifying his successor is something he is “obsessed” with.
Iger initially served as the CEO of Disney between 2005 and 2020 before being replaced by his hand-picked successor, Bob Chapek. However, Chapek lasted less than three years and was ousted in November 2022, after which Iger returned.