Disney Names Former Morgan Stanley CEO as Chairman

Gorman, who is executive chairman of Morgan Stanley and is stepping down from that role on Dec. 31, defied deeply entrenched Wall Street norms with a bloodless handoff at the investment bank, picking a successor from within the firm while persuading the losing candidates to stay.

His departure caps a nearly two-decade run at the firm.

In addition to Gorman, the Disney board’s succession planning committee includes General Motors Co. CEO Mary Barra and Calvin McDonald, CEO of Lululemon Athletica Inc. The committee met six times in fiscal 2024, Disney said.

Disney is weighing both internal and external candidates to succeed Iger, whose second term as CEO runs through 2026.

Disney’s four divisional heads — TV chief Dana Walden, ESPN’s Jimmy Pitaro, theme-parks boss Josh D’Amaro and Alan Bergman, who heads the film business — are competing for the CEO role, Bloomberg has reported.

Credit: Bloomberg