(L to R) Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City.
- Disney is counting on incoming board chairman James Gorman to deliver an ironclad system to identify the best possible successor for CEO Bob Iger.
- Given Gorman's track record, some board members are hoping he'll lead the company to name a successor sooner than the early-2026 deadline that it's announced, people familiar with the matter tell CNBC.
- Disney's board has been meeting regularly with its four internal candidates: Entertainment Co-Chairmen Dana Walden and Alan Bergman along with Disney Experiences Chairman Josh D'Amaro and ESPN Chairman Jimmy Pitaro.
Disney is counting on incoming board chairman James Gorman to deliver an ironclad system to identify the best possible successor for CEO Bob Iger.
Given Gorman's track record, some board members are hoping he'll lead the company to name a successor sooner than the early-2026 deadline that it's announced, people familiar with the matter tell CNBC.
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Disney announced last month that Gorman will take over as board chairman from Mark Parker, who is also Nike's executive chairman, effective in January. With that announcement, Disney gave Gorman a full year in the role before the deadline to name Iger's replacement. The timeline also gives the yet-to-be-named successor time to be mentored by Iger before his tenure ends.
Parker decided to step down as board chairman to focus on challenges at Nike and to clear the way for Gorman, who is already chair of the Disney board succession planning committee, according to people familiar with the matter, who spoke on the condition of anonymity to discuss internal matters.
Gorman, Morgan Stanley's former CEO, is known for having run a smooth succession process to replace himself at the bank. He's credited with creating financial incentives to ensure that the two executives who were in the running for the top job — but ultimately failed to land it — would stay on at the company.
Money Report
Disney's board is hoping that Gorman will do the same at the media giant to ensure that it doesn't lose any of its top talent, the people familiar said.
Disney's board has been meeting regularly with its four internal candidates: Entertainment Co-Chairmen Dana Walden and Alan Bergman along with Disney Experiences Chairman Josh D'Amaro and ESPN Chairman Jimmy Pitaro.
Gorman is also working with a recruiting firm to identify and bring in potential outside candidates, including those in fields outside media and entertainment, the people familiar said. The Wall Street Journal reported Tuesday that Disney is considering, among other external names, EA CEO Andrew Wilson.
Wilson's name has been floated, according to people familiar with the matter, but they say the board is more likely to chose one of the internal candidates than Wilson.
And while there's been speculation that Disney could consider naming co-CEOs given the diversity of its businesses, the board is prioritizing identifying a single chief executive, the people said.
Disney declined to comment beyond the October press release announcing Gorman as board chair. The company reports earnings for its most recent quarter Thursday morning.
