The Walt Disney Co. isn’t prepared to say who will succeed CEO Bob Iger, but the entertainment giant is at least indicating when it will announce who is to replace the company’s respected chief executive. 

Disney said Monday it will disclose Iger’s replacement in early 2026.

Relatedly, Disney’s board of directors also named Morgan Stanley executive chairman and former CEO James Gorman its new board chairman, effective January 2, 2025. Gorman will step down at Morgan Stanley before assuming his new duties as Disney’s  chairman. He will replace Mark Parker, executive chairman of Nike. 

“The Disney Board has benefited tremendously from James Gorman’s expertise and guidance, and we are lucky to have him as our next Chairman – particularly as the board continues to move forward with the succession process,” said Iger, who left Disney in 2020 before returning in 2022, in a statement. “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.”

Gorman said the process to pick a new Disney CEO is ongoing. 

“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026. This timing reflects the progress the Succession Planning Committee and the board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026,” he said in a statement. 

Iger was Disney’s public face for 15 years, compiling a string of victories lauded in the entertainment industry and by Disney fans, before he retired in 2020. But he returned to lead the company two years ago after it fired Bob Chapek as CEO.

In his latest stint at the helm, Iger has moved to slash costs and restructure Disney’s business, including cutting 7,000 jobs. In 2024, he also staved off a challenge from activist investor Nelson Peltz, who had mounted a proxy fight to win a seat on Disney’s board. 

contributed to this report.