Out with the old, in with the new. Disney announced Monday it has a set timeline in place to name a successor for 73-year-old CEO Bob Iger.
Disney has already tapped James Gorman to replace Mark Parker as the company’s next chairman, effective in January, CNBC reported.
Gorman joined Disney’s board less than a year ago and was named the head of the succession planning committee in August. He will continue to lead that committee after he takes over as board chairman from Nike Executive Chairman Parker, the CNBC report notes.
Gorman says he plans on announcing Bob Iger’s successor in “early 2026.”
Disney’s chief executive since Nov. 2022, Iger was previously the troubled entertainment conglomerate’s leader from 2005 to 2020.
His first successor, Robert Chapek, led the company only briefly, a tenure marred by streaming losses and a political battle in Florida, the home of Disney World.
Iger returned to lead Disney again in 2022 for what was supposed to be a two-year term but now it has been confirmed he will once again head for the exit at the end of 2026, so there will be a one-year transition period with the (next) new CEO.