Walt Disney announces a new CEO replacement for Bob Iger in early 2026, with James Gorman of Morgan Stanley named as board chair.

Gorman will step down from Morgan Stanley at the end of 2024 to take on the role at Disney in January.

The succession plan follows turmoil and negative earnings reports at Disney, with Iger returning as CEO in 2022 after dismissing his appointed successor.

The search for a new CEO has been ongoing, with internal candidates like Dana Walden and Josh D’Amaro in the running.