Disney's announcement of naming a new C.E.O. in early 2026 follows a board shake-up, reflecting a structured approach to long-term succession planning.
Mr. Gorman emphasized that 'this timing reflects the progress the succession planning committee and the board are making and will allow ample time for a successful transition.'
The board's past selection of Bob Chapek as C.E.O. without interviews has been widely criticized, marking a turbulent period for Disney amid the pandemic and industry shifts.
Iger's promise to leave upon contract expiration is viewed skeptically, given his history of delayed retirements and the challenges seen during his previous tenure.
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