Disney needs a new CEO. Meet the Wall Street banker in charge of replacing Bob Iger

In August, Gorman was entrusted with the tough work of leading the search committee for Disney’s next CEO– a job that really did not go so well the first time, as Iger and his successor Bob Chapek’s partnership soured practically immediately because of distinctions in leadership design.

After offering several executive roles at Merrill Lynch, Gorman joined Morgan Stanley in 2005 and was called a co-president a year later on. He became the company’s chief executive officer and served till 2023. He was likewise called chairman in 2012 and is readied to step down this year.

Gorman eventually called Ted Choose as his successor and also gave the various other 2 prospects, Andy Saperstein and Dan Simkowitz, expanded duties. All 3 candidates were also given single incentives of $20 million each.

In a podcast, Gorman claimed he checked all 3 prospects by providing different work such as running approach or leading worldwide technology. He would certainly additionally take them to forums and set up TV appearances so they could see what the job was like.

“I am honored and humbled to have the possibility to function as Disney’s Chairman at this important minute in the business’s history,” Gorman claimed in a declaration. “A vital priority prior to us is to assign a new chief executive officer, which we now expect to announce in early 2026.”

In an unusually public action, Gorman announced in May of 2023 which he would certainly be stepping down as chief executive officer of Morgan Stanley within a year which he would certainly be pick his successor from among the bank’s 3 major department heads.

Gorman, currently 66, was born sixth of 10 siblings in Melbourne, Australia. He examined legislation there and quickly exercised before relocating to New york city City to get his MBA at Columbia Service Institution. Complying with that, he signed up with McKinsey, where he would eventually become an elderly partner.

Iger, that has been with the media leviathan for four years, served as its Chief executive officer from 2005 to 2020. Iger returned to the business just a year later on to offer a two-year term as Chief executive officer– taking his role back from Chapek– which has actually given that been prolonged.

Iger returned to the firm just a year later on to offer a two-year term as CEO– taking his function back from Chapek– which has actually given that been extended. Gorman, now 66, was birthed sixth of 10 brother or sisters in Melbourne, Australia. After offering numerous exec duties at Merrill Lynch, Gorman signed up with Morgan Stanley in 2005 and was called a co-president a year later.

Beyond the world of banking, Gorman has actually had leadership functions at numerous banks. He was the director of the Reserve bank of New york city and president of the Federal Advisory Council to the United State Federal Reserve Board.