By Michelle Chapman, Business Writer
LOS ANGELES (AP) --Morgan Stanley Executive Chairman James Gorman will lead Disney’s search for a successor to Bob Iger, two years after the company’s longtime leader came out of retirement following a rocky transition to his hand-picked replacement.
Iger returned in 2022 after a period of clashes, missteps and a weakening financial performance at Disney under his chosen successor, Bob Chapek.
Iger was Disney’s public face for 15 years, compiling a string of victories lauded in the entertainment industry and by Disney fans, before he retired in 2020.
On his return, Iger initially agreed to a two year contract in order to redirect Disney’s trajectory and help find a new chief executive. But in July 2023 Iger agreed to a two-year contract extension that will keep him at Disney through the end of 2026.
There have been some notable successes under Iger since his return, including the first profit for the Disney’s streaming service. Yet Disney has struggled to bring stability back to its parks division. The company cautioned this month that it has seen some moderation in demand at its Experiences division that includes six global theme parks, and that the trend may linger for the next few quarters.
Gorman, who joined Disney’s board earlier this year, has previous succession planning experience, as he oversaw the process at Morgan Stanley. Gorman currently serves as Morgan Stanley’s executive chairman after several years as its chairman and CEO.
“James is a highly respected leader, and we’ve asked him to serve as the new chair of the succession planning committee given his deep succession planning experience and long-term strategic mentality,” Disney Chairman Mark Parker, who most recently served as the committee’s chair, said in a statement.
Aside from Gorman and Parker, board members Mary Barra and Calvin McDonald will continue to serve on the succession planning committee.
Disney, which formed the succession planning committee in January 2023, said that the committee has met six times so far in fiscal 2024. The committee, along with the company’s board, are considering internal and external candidates. Disney said that internal candidates are going through a preparation process that includes mentorship from Iger, external coaching, and engagement with all board members.
DOC NYC Unveils Main Slate Lineup: 31 World Premieres; 24 Films Making Their U.S. Debut
DOC NYC--the documentary festival celebrating its 15th anniversary in-person November 13-21 at IFC Center, SVA Theatre and Village East by Angelika, and continuing online through December 1--has unveiled its main slate lineup. The 2024 festival presents more than 110 feature-length documentaries (including yet-to-be-announced Short List and Winner’s Circle titles) among over 200 films and dozens of events, with filmmakers expected in person at most screenings.
Opening the festival on Nov. 13 at SVA Theater will be the U.S. premiere of Sinead O’Shea’s inspiring portrait Blue Road--The Edna O’Brien Story, a breakout hit from the recent Toronto International Film Festival that honors the legendary Irish writer, who passed away just a few months ago at the age of 93.
Closing the festival on Nov. 21, also at SVA Theatre, will be the world premiere of Peter Yost and Michael Rohatyn’s Drop Dead City--New York on the Brink in 1975, a look back at the circumstances and players involved in NYC’s mid-70s financial crisis. The festival’s Centerpiece screening on Nov. 14 at Village East is the World premiere of Ondi Timoner’s All God’s Children (also part of the festival’s U.S. Competition), a chronicle of a Brooklyn rabbi and Baptist pastor who join forces to create greater unity between their two communities, against all odds.
Included are 31 world premieres and 24 U.S. premieres, with eight of those presented in the U.S. Competition, for new American-produced nonfiction films, and another eight featured in International Competition, for work from around the globe. The Kaleidoscope Competition for new essayistic and formally adventurous documentaries continues, while the festival’s long-standing Metropolis... Read More