Who will be new Walt Disney CEO? Morgan Stanley's Gorman tasked to search for new boss

Morgan Stanley executive chairman James Gorman has been appointed as the head of the panel looking for the next Walt Disney chief executive officer, a Reuters report said. Gorman, who is also a Disney board member will be chairing the succession planning committee.

Gorman led Morgan Stanley between 2010 and 2023. His stint as executive chairman will be ending in December this year.

This panel has been constituted to look for suitable candidate to replace Bob Iger, the long-time Disney boss. The entertainment giant had already extended Iger’s date of retirement for five times. In fact, Disney brought him back in 2022 to replace Bob Chapek, who was a chosen successor by Iger himself. The Reuters report quoted Disney Chairman Mark Parker saying, "Succession planning is a top priority of the Board."

The appointment of Gorman comes as the media behemoth won a lengthy proxy war with investor Nelson Peltz. The activist had slammed the succession planning and said that Disney has been performing poorly in the streaming sector.

Apart from Gorman, other members of Disney succession committee include General Motors CEO Mary Barra and Lululemon Athletica CEO Calvin McDonald. The Reuters reported added that so far, the committee has held six meetings so far this year.

Earlier this month, Disney reported its fiscal Q3 results on August 7. The numbers toped street estimates as its combined streaming businesses turned a profit.