As Disney prepares for this significant leadership change, the selection of a new CEO in 2026 will be one of the most critical decisions in the company’s history
In a significant move that underscores Disney’s efforts to solidify its leadership during a turbulent period for the entertainment industry, the company has announced that it will appoint a successor to CEO Bob Iger in 2026. Alongside this announcement, James Gorman, the outgoing CEO of Morgan Stanley, has been named as the new chair of the board of directors. This decision highlights Disney’s strategic efforts to stabilize its leadership pipeline while bolstering financial expertise at the board level, preparing the company for the next era of growth and transformation.
Bob Iger’s Legacy and His 2026 Exit
Bob Iger has been a monumental figure in Disney’s history. Originally stepping down as CEO in 2020, Iger returned to the role in 2022 after the brief tenure of his successor, Bob Chapek. His return was seen as necessary due to Chapek’s controversial management decisions and the broader industry disruptions brought about by the COVID-19 pandemic.
Under Iger’s guidance, the firm has experienced unprecedented growth, acquiring major assets such as Pixar, Marvel, Lucasfilm, and 21st Century Fox. These acquisitions propelled the company into the leading position it holds today across various segments, including streaming, theatrical releases, and theme parks. His departure in 2026 marks the end of an era, making the selection of his successor critical for the company’s future.
The Decision to Appoint James Gorman as Chair
The appointment of James Gorman, CEO of Morgan Stanley, as chair of Disney’s board is a calculated choice. Gorman is widely respected for his financial acumen and steady leadership during his time at Morgan Stanley, where he led the firm through critical phases of transformation, including the aftermath of the 2008 financial crisis. His deep understanding of financial markets and corporate governance will be a valuable asset as the firm navigates an evolving media landscape marked by streaming wars, cord-cutting, and challenges in traditional media.
Gorman’s role as chair signals a strong push toward financial discipline and a renewed focus on shareholder value, two areas that are paramount as Disney continues to grapple with declining linear TV revenues and increasing competition in the streaming space. His experience managing a multinational corporation and navigating complex regulatory environments will be crucial in helping the company through its current transitional period.
Challenges Facing Disney’s Next CEO
The selection of Iger’s successor will be pivotal for Disney’s future. The new CEO will face an evolving media landscape where traditional television is in decline, and the streaming market is becoming increasingly saturated. With heavy investments in Disney+, Hulu, and ESPN+, the firm has positioned itself as a key player in the streaming space, but profitability remains a concern as competitors like Netflix and Amazon Prime Video continue to expand their global presence.
In addition to the competitive pressures, the company faces growing operational costs, labor strikes, and content challenges. The recent writers’ and actors’ strikes have already disrupted the company’s production schedules, and the costs of creating high-quality, original content continue to rise. Balancing these pressures while ensuring continued growth in theme parks, licensing, and international markets will be a monumental task for the next CEO.
The Importance of a Smooth Leadership Transition
A seamless leadership transition is essential for maintaining investor confidence and minimizing operational disruptions. By announcing its plans well in advance, Disney is taking proactive steps to ensure a smooth succession process. The extended timeline allows for a thorough and considered selection of Iger’s replacement, ensuring that the chosen candidate has ample time to understand the complexities of the firm’s vast operations.
With Gorman now chairing the board, the new CEO will benefit from his extensive experience in corporate governance and financial strategy. This combination of leadership from Iger, Gorman, and the new CEO will set the foundation for Disney’s continued dominance in the global entertainment sector.
Disney’s Strategy Moving Forward
Disney’s strategic focus will remain on its core strengths: high-quality content creation, theme park operations, and expanding its streaming platforms. Under Iger’s leadership, the company invested heavily in intellectual property, and this is expected to continue under his successor.
Moreover, international expansion, particularly in emerging markets, will likely be a priority. Disney’s ability to localize content and leverage its globally recognized brands will be key to driving growth in new regions. The company’s parks and resorts division will also play an integral role in future strategies, as the company seeks to expand its experiential offerings to new audiences.