Morgan Stanley Executive Chairman James Gorman is set to lead Disney’s search for a successor to chief executive Bob Iger, the longtime Disney chief who came out of retirement two years ago due to the troubled tenure of his hand-picked successor.
Iger returned to the company in 2022 due to Disney’s weakening performance and financial position under his successor, Bob Chapek. At one point, the company had lost more than $1 billion over its last nine film releases, a stretch that included box office disasters like “Indiana Jones And The Dial Of Destiny,” “Lightyear” and “Elemental.”
Iger previously served as the public face of Disney for more than a decade before retiring in 2020. His tenure was widely viewed as successful, though the company is still struggling to regain its footing in 2024.
Upon his return, Iger initially agreed to a two-year contract in order to steer Disney in the right direction and assist in the search for a new chief executive. He later agreed to another two-year extension in July 2023, which will keep him at the company’s helm through 2026. […]
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