Disney has tapped James Gorman to replace Mark Parker as the company's next chairman, effective in January, as the media giant lays the groundwork to name a successor for CEO Bob Iger in early 2026, the company said Monday.
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.
"I'm extremely grateful to Mark Parker for his many years of board service and leadership, which have been so valuable to this company and its shareholders, and to me as CEO."
Parker will step down after nine years on the Disney board "to focus on other areas" of his work, according to a Disney statement.
Persons:
James Gorman, Mark Parker, Bob Iger, Gorman, Parker, James Gorman's, –, Iger, Elliott Hill, John Donahoe
Organizations:
Disney, Nike