Disney and James Gorman aim to perfect the process of selecting Bob Iger's successor.

• Disney expects incoming board chairman James Gorman to establish a definitive process for identifying the most suitable replacement for CEO Bob Iger.
• Some board members are hoping that Gorman will lead the company to name a successor sooner than the early-2026 deadline, according to people familiar with the matter.
• The board of Disney has been holding regular meetings with its four internal candidates, including Entertainment Co-Chairmen Dana Walden and Alan Bergman, Disney Experiences Chairman Josh D'Amaro, and ESPN Chairman Jimmy Pitaro.

Bob Iger is relying on James Gorman to establish a robust system for identifying the most suitable successor as CEO.

Some board members are hoping that Gorman will lead the company to name a successor sooner than the early-2026 deadline, according to people familiar with the matter.

Disney has appointed Gorman as the new board chairman, replacing Mark Parker, who is also the executive chairman, effective January. Disney has given Gorman a full year in the role before the deadline to name Iger's successor. The timeline also allows the yet-to-be-named successor to be mentored by Iger before his tenure ends.

According to sources, Parker stepped down as board chairman to concentrate on issues at Nike and pave the way for Gorman, who is already chair of the Disney board's succession planning committee.

Morgan Stanley's former CEO, Gorman, is recognized for having executed a successful succession plan to replace himself at the bank. He is praised for implementing financial incentives to retain the two executives who were contenders for the top job, despite ultimately losing out on the position.

Disney hopes to retain its top talent by following Gorman's lead, according to sources.

The board of Disney has been holding regular meetings with its four internal candidates, including Entertainment Co-Chairmen Dana Walden and Alan Bergman, Disney Experiences Chairman Josh D'Amaro, and ESPN Chairman Jimmy Pitaro.

Gorman is collaborating with a recruitment agency to attract potential candidates from various fields, including those outside media and entertainment, according to sources. The Wall Street Journal reported on Tuesday that Disney is considering EA CEO Andrew Wilson as an external candidate for a role.

According to sources, Wilson's name has been considered, but it's rumored that the board will opt for an internal candidate instead.

There have been rumors that Disney might name co-CEOs due to the variety of its businesses, but the board is focusing on finding a single CEO, sources said.

Disney did not provide any additional comment beyond its October press release regarding Gorman's appointment as board chair. The company will report its earnings for the most recent quarter on Thursday morning.