Walt Disney Co

NYSE:DISUnited States

Aug 21, 2024

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• DJ Disney Names Board Member Gorman to Lead Committee Tasked With Finding Iger's Successor -- Update, from 5:33PM ET on Wednesday Aug 21, 2024 by Dow Jones

  5:33PM ET on Wednesday Aug 21, 2024 by Dow Jones
  Companies Mentioned: DIS
  By Denny Jacob Walt Disney Co. has tapped former Morgan Stanley CEO James Gorman to lead the search for Bob Iger's successor. Gorman, who oversaw the recent succession process at the bank, joined Disney's board earlier this year, when Iger aimed to set Disney on steady footing amid a battle with activist investors. The entertainment company said its committee has met six times in fiscal 2024 for its deliberations, which began in January 2023. Disney must find its next leader before Iger's contract runs out in 2026. The Wall Street Journal reported that the top internal candidates to succeed Iger include Dana Walden and Alan Bergman, co-chairmen of Disney Entertainment, which includes the cable, streaming and studio units; Josh D'Amaro, chairman of Disney Experiences, which includes Disney's lucrative theme parks; and Jimmy Pitaro, chairman of ESPN, which is in the throes of a high-stakes pivot to streaming. Iger is currently in his second stint as CEO after his chosen successor, Bob Chapek, was ousted in 2022. Iger returned in November 2022 and said he was coming back for two years. By the following summer, the board extended his contract through 2026. Disney has pushed through big changes under Iger's latest term as CEO. The company's streaming unit, which includes flagship platform Disney+, general entertainment service Hulu and the sports-focused ESPN+, recently posted its first-ever streaming profit. While its quarterly streaming profit was small, it marked a shift from years of steep losses as the streaming wars between competitors picked up. The Burbank, Calif., company earlier this month unveiled details of the tens of billions it plans to invest in its Experiences unit--which includes Disney's six global theme-park resorts, a cruise line, consumer-products sales, video-game licensing and other businesses--at its three-day D23 Expo. The company is under pressure to offer fans new, exciting attractions to justify recent increases to ticket prices and other rising costs. Other streaming-related endeavors have recently faced hurdles. A judge on Friday blocked Warner Bros. Discovery, Fox Corp. and Disney's new sports streaming service from launching later this month. Write to Denny Jacob at denny.jacob@wsj.com (END) Dow Jones Newswires August 21, 2024 17:33 ET (21:33 GMT)

• DJ Disney Names Board Member Gorman to Chair Committee Tasked with Finding Iger's Successor, from 4:43PM ET on Wednesday Aug 21, 2024 by Dow Jones

  4:43PM ET on Wednesday Aug 21, 2024 by Dow Jones
  Companies Mentioned: DIS
  By Denny Jacob Walt Disney Co. named board member James Gorman to chair its succession planning committee as the company continues to work on finding its next leader after Bob Iger. Gorman, former CEO of Morgan Stanley, was appointed to the board in November at a time when it faced separate shareholder challenges. Disney has noted his role in the succession process at the bank, where he serves as executive chairman. "I am eager to continue collaborating with James on the committee as we advance the important work we have already been doing to identify and prepare the next CEO," said Chairman Mark Parker. The entertainment giant said its succession committee has met six times to date in fiscal 2024 for its succession deliberations. Disney is on the clock to find its next CEO as Iger's contract runs to 2026, when he has promised to step down. The Wall Street Journal has reported that the top internal candidates to succeed him include Dana Walden and Alan Bergman, co-chairmen of Disney Entertainment, which includes the cable, streaming and studio units; Josh D'Amaro, chairman of Disney Experiences, which includes Disney's lucrative theme parks; and Jimmy Pitaro, chairman of ESPN, which is in the throes of a high-stakes pivot to streaming. Write to Denny Jacob at denny.jacob@wsj.com (END) Dow Jones Newswires August 21, 2024 17:51 ET (21:51 GMT)

• *DJ The Walt Disney Co Bd Names James P. Gorman as Succession Planning Committee Chair, from 4:15PM ET on Wednesday Aug 21, 2024 by Dow Jones

  4:15PM ET on Wednesday Aug 21, 2024 by Dow Jones
  Companies Mentioned: DIS

• The Walt Disney Company Board Names James P. Gorman as Succession Planning Committee Chair, from 4:15PM ET on Wednesday Aug 21, 2024 by Dow Jones

  4:15PM ET on Wednesday Aug 21, 2024 by Dow Jones
  Companies Mentioned: DIS
  BURBANK, Calif.--(BUSINESS WIRE)--August 21, 2024--
  The Walt Disney Company (NYSE: DIS) Board of Directors has named Board member James P. Gorman to chair its Succession Planning Committee (the "Committee"), it was announced today by Mark G. Parker, Chairman of the Board.