Morgan Stanley CEO James Gorman to Join Disney Succession Planning Committee

Morgan Stanley CEO James Gorman announced that he will be joining a succession planning committee at Disney to advise the board on choosing CEO Bob Iger’s successor. Gorman is set to step down as Morgan Stanley CEO on January 1 and will join Disney’s board in February.

Gorman’s Appointment to Disney’s Board

Last month, Disney announced that Gorman would be joining the company’s board along with former Sky TV boss Jeremy Darroch. The appointment was seen as a strategic move to hold off a potential proxy fight by activist fund Trian and its chief, Nelson Peltz. However, Trian expressed dissatisfaction with the appointments and stated their intention to push for Peltz and former Disney executive Jay Rasulo to join the board.

Gorman’s Succession Process at Morgan Stanley

Gorman has received praise for his handling of the succession process at Morgan Stanley. He brings his experience in managing succession on Morgan Stanley’s board to Disney’s succession committee.

Disney’s Recent Challenges

Disney has faced various challenges in recent years, including box office flops and streaming losses. CEO Bob Iger was reappointed in November 2022 after the tumultuous tenure of his hand-picked successor Bob Chapek. The company has undergone a reorganization, including layoffs and cost-cutting measures.