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The Walt Disney Company Board Names James P. Gorman as Succession Planning Committee Chair

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The Walt Disney Company's Board of Directors has appointed James P. Gorman as the new Chair of its Succession Planning Committee. Gorman, who joined Disney's Board earlier this year, brings valuable experience from overseeing the recent succession process at Morgan Stanley. The Committee, which includes directors Mark G. Parker, Mary T. Barra, and Calvin R. McDonald, is tasked with identifying and preparing the next CEO of Disney.

The Board has intensified its succession planning efforts since January 2023, with the Committee meeting six times in fiscal 2024. The process involves evaluating both internal and external candidates, with internal candidates undergoing preparation that includes mentorship from current CEO Robert A. Iger. The Board is committed to a deliberate and expeditious succession planning process to ensure a smooth transition of leadership aligned with Disney's long-term strategic goals.

Il Consiglio di Amministrazione della Walt Disney Company ha nominato James P. Gorman come nuovo Presidente del Comitato di Pianificazione della Successione. Gorman, che è entrato a far parte del Consiglio di Disney all'inizio di quest'anno, porta un'esperienza preziosa dalla supervisione del recente processo di successione di Morgan Stanley. Il Comitato, che include i direttori Mark G. Parker, Mary T. Barra e Calvin R. McDonald, ha il compito di identificare e preparare il prossimo CEO di Disney.

Il Consiglio ha intensificato i suoi sforzi di pianificazione della successione da gennaio 2023, con il Comitato che si è riunito sei volte nell'esercizio 2024. Il processo prevede la valutazione di candidati interni ed esterni, con i candidati interni che subiscono una preparazione che include il mentoring da parte dell'attuale CEO Robert A. Iger. Il Consiglio è impegnato in un processo di pianificazione della successione deliberato e rapido per garantire una transizione fluida della leadership allineata con gli obiettivi strategici a lungo termine di Disney.

La Junta Directiva de The Walt Disney Company ha nombrado a James P. Gorman como el nuevo Presidente de su Comité de Planificación de Sucesión. Gorman, quien se unió a la Junta de Disney a principios de este año, aporta una valiosa experiencia tras supervisar el reciente proceso de sucesión en Morgan Stanley. El Comité, que incluye a los directores Mark G. Parker, Mary T. Barra y Calvin R. McDonald, tiene la tarea de identificar y preparar al próximo CEO de Disney.

La Junta ha intensificado sus esfuerzos de planificación de sucesión desde enero de 2023, con el Comité reuniéndose seis veces en el año fiscal 2024. El proceso implica evaluar tanto a candidatos internos como externos, siendo los candidatos internos preparados mediante mentoría del actual CEO Robert A. Iger. La Junta está comprometida con un proceso deliberado y expedito de planificación de sucesión para asegurar una transición fluida del liderazgo alineada con los objetivos estratégicos a largo plazo de Disney.

월트 디즈니 컴퍼니의 이사회는 제임스 P. 고먼을 새로운 후계 계획 위원회 의장으로 임명했습니다. 고먼은 올해 초 디즈니 이사회에 합류했으며, 모건 스탠리에서 최근 후계 프로세스를 감독한 소중한 경험을 가지고 있습니다. 이 위원회는 마크 G. 파커, 메리 T. 바라, 칼빈 R. 맥도날드를 포함한 이사들로 구성되어 있으며, 디즈니의 다음 CEO를 식별하고 준비하는 임무를 맡고 있습니다.

이사회는 2023년 1월 이후 후계 계획 노력을 강화하였으며, 위원회는 2024 회계연도에 여섯 번 회의하였습니다. 이 과정은 내부 및 외부 후보자를 평가하는 것을 포함하며, 내부 후보자는 현 CEO 로버트 A. 아이거의 멘토링을 포함한 준비를 받습니다. 이사회는 디즈니의 장기 전략 목표에 부합하는 리더십의 원활한 전환을 보장하기 위한 신중하고 신속한 후계 계획 과정을 약속하고 있습니다.

Le Conseil d'administration de la Walt Disney Company a nommé James P. Gorman comme nouveau Président de son Comité de Planification de la Succession. Gorman, qui a rejoint le Conseil de Disney plus tôt cette année, apporte une expérience précieuse acquise lors de la supervision du récent processus de succession chez Morgan Stanley. Le Comité, qui comprend les directeurs Mark G. Parker, Mary T. Barra et Calvin R. McDonald, a pour mission d'identifier et de préparer le prochain CEO de Disney.

Le Conseil a intensifié ses efforts de planification de la succession depuis janvier 2023, avec le Comité se réunissant six fois au cours de l'exercice 2024. Le processus implique l'évaluation de candidats internes et externes, avec des candidats internes bénéficiant d'un accompagnement de la part de l'actuel CEO Robert A. Iger. Le Conseil s'engage dans un processus de planification de la succession réfléchi et rapide afin d'assurer une transition fluide de la direction en accord avec les objectifs stratégiques à long terme de Disney.

Der Vorstand der Walt Disney Company hat James P. Gorman zum neuen Vorsitzenden des Nachfolgeplanungsausschusses ernannt. Gorman, der Anfang dieses Jahres in den Vorstand von Disney eintrat, bringt wertvolle Erfahrungen aus der Leitung des jüngsten Nachfolgeprozesses bei Morgan Stanley mit. Der Ausschuss, zu dem die Direktoren Mark G. Parker, Mary T. Barra und Calvin R. McDonald gehören, hat die Aufgabe, den nächsten CEO von Disney zu identifizieren und vorzubereiten.

Der Vorstand hat seine Bemühungen um die Nachfolgeplanung seit Januar 2023 verstärkt, wobei der Ausschuss sich im Geschäftsjahr 2024 insgesamt sechs Mal traf. Der Prozess umfasst die Bewertung von internen und externen Kandidaten, wobei interne Kandidaten eine Vorbereitung erhalten, die Mentoring durch den aktuellen CEO Robert A. Iger einschließt. Der Vorstand ist verpflichtet, einen durchdachten und zügigen Nachfolgeplanungsprozess sicherzustellen, um einen reibungslosen Führungsübergang im Einklang mit den langfristigen strategischen Zielen von Disney zu gewährleisten.

Positive
  • Appointment of experienced leader James P. Gorman as Succession Planning Committee Chair
  • Intensified and expanded approach to CEO succession planning
  • Regular meetings and engagement of the full Board on succession planning
  • Consideration of both internal and external candidates for CEO position
  • Preparation process for internal candidates including mentorship from current CEO
Negative
  • None.

BURBANK, Calif.--(BUSINESS WIRE)-- The Walt Disney Company (NYSE: DIS) Board of Directors has named Board member James P. Gorman to chair its Succession Planning Committee (the “Committee”), it was announced today by Mark G. Parker, Chairman of the Board.

Gorman, who joined the Disney Board earlier this year, oversaw the recent succession process at Morgan Stanley, where he serves as Executive Chairman following several years as the firm’s Chairman and CEO.

“James is a highly respected leader, and we’ve asked him to serve as the new Chair of the Succession Planning Committee given his deep succession planning experience and long-term strategic mentality,” said Parker, who most recently served as the Committee’s Chair. “Succession planning is a top priority of the Board, and I am eager to continue collaborating with James on the Committee as we advance the important work we have already been doing to identify and prepare the next CEO of The Walt Disney Company.”

In addition to Gorman and Parker, directors Mary T. Barra and Calvin R. McDonald will continue to serve on the Committee. All members of the Committee have direct experience in CEO and senior leadership succession planning for Fortune 500 companies.

“I look forward to working alongside Mark and my other fellow Committee members in advising the Board as we continue to press forward expeditiously with this work,” Gorman said.

Succession Planning Committee Background, Process and Progress to Date

In January 2023, the Board intensified and expanded its approach to CEO succession planning through the formation of a special Succession Planning Committee to advise the Board and plan for a transition of leadership that aligns with the Company’s long-term strategic goals. At the direction of the Board, the Committee and the full Board continue to undertake a deliberate succession planning process, including evaluation of transition structures and organizational frameworks, and planning for potential impacts of succession decisions across the Company. The Committee has met six times to date in fiscal 2024, consistently engaging with the full Board on the substance of the decisions to be made. The Board has discussed succession planning at each of its regularly scheduled meetings in fiscal 2024. As detailed in the Committee’s March 2024 letter to shareholders, the Committee and Board are reviewing internal candidates and external candidates. Internal candidates are going through a preparation process that includes mentorship from Disney CEO Robert A. Iger, external coaching, and engagement with all Board directors.

James P. Gorman Background

James P. Gorman is Executive Chairman of Morgan Stanley and has announced that he will be ceding this role in December 2024. Previously, Mr. Gorman served as Morgan Stanley’s Chief Executive Officer from 2010 to 2023 and Chairman from 2012 to 2023. He joined the firm in 2006 and was named Co-President in 2007. Before joining Morgan Stanley, Mr. Gorman held executive positions at Merrill Lynch and was a senior partner at McKinsey & Co. He serves as a Director of the Council on Foreign Relations and is a member of the Business Council. He formerly served as a Director of the Federal Reserve Bank of New York and President of the Federal Advisory Council to the U.S. Federal Reserve Board. Mr. Gorman has been a Director of the Company since 2024.

About The Walt Disney Company

The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise that includes three business segments: Entertainment, Sports and Experiences. Disney is a Dow 30 company and had annual revenue of $88.9 billion in its Fiscal Year 2023.

Forward-Looking Statements

Certain statements and information in this earnings release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including governance statements that are not historical in nature. Any information that is not historical in nature included in this release is subject to change. These statements are made on the basis of views and assumptions regarding future events as of the time the statements are made. The Company does not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including business or governance decisions, as well as from developments beyond the Company’s control, including the factors set forth in the Company’s Annual Report on Form 10-K for the year ended September 30, 2023 and subsequent filings with the Securities and Exchange Commission.

David Jefferson

Corporate Communications

david.j.jefferson@disney.com

(818) 560-4832

Mike Long

Corporate Communications

mike.p.long@disney.com

(818) 560-4588

Source: The Walt Disney Company

FAQ

Who is the new Chair of Disney's Succession Planning Committee?

James P. Gorman, a board member who joined Disney earlier this year, has been named the new Chair of the Succession Planning Committee.

When did Disney (DIS) intensify its CEO succession planning process?

Disney intensified and expanded its approach to CEO succession planning in January 2023 by forming a special Succession Planning Committee.

How often has Disney's Succession Planning Committee met in fiscal 2024?

The Succession Planning Committee has met six times to date in fiscal 2024.

Is Disney (DIS) considering external candidates for the CEO position?

Yes, Disney is reviewing both internal and external candidates for the CEO position as part of its succession planning process.

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