Disney'S Next Act: How James Gorman And The Board Chose The New Ceo

The High-Stakes Search for Disney's New Leader

When James Gorman stepped into the spotlight as a member of The Walt Disney Co.'s board of directors, he had one mission in mind: find the next CEO. "The most important thing boards do is figure out the CEO, and transition," Gorman shared in an exclusive chat with The Hollywood Reporter. Little did he know, he was about to embark on a journey worthy of a Disney epic.

Disney, a powerhouse in global entertainment, was on the hunt for someone to fill CEO Bob Iger's shoes. With an abundance of talent within its ranks, the board had many options. Ultimately, it was Josh D’Amaro, the chairman of Disney's experiences division, who captured the coveted role. Gorman was quick to praise the board's decision, "We have great executives here. We could have had more than one CEO. Hats off to Josh and the board for a job well done."

“This isn't just any company. It's a $200 billion global brand,” Gorman emphasized. "We wanted someone who understands the power of Disney, someone who can tell stories and manage a large, complex business."

The Minds Behind the Decision

Gorman wasn't navigating this grand adventure alone. The succession committee was a dream team of industry titans, featuring Mary Barra of General Motors, Jeremy Darroch from Sky, and Calvin McDonald of Lululemon. Together, they crafted the blueprint for what Disney's future leader should embody. Their discussions remained under wraps, a testament to the integrity and respect within the board.

The hunt for the next Disney CEO was anything but straightforward. It was a year-long saga involving numerous meetings, both with and without Iger, that whittled down over 100 candidates from within and outside the company. "We wanted to say, whoever got this job, beat all comers," Gorman stated. The final decision was less about a single 'aha' moment and more about a series of interactions and impressions that built a picture of who would best steer Disney's future.

Preserving Disney Magic Amidst Change

Transitioning leadership in a company as beloved as Disney is a delicate dance. While D’Amaro took center stage, the board ensured other key players like Dana Walden, Alan Bergman, and Jimmy Pitaro remained in roles vital to Disney's magic. Walden was elevated to president and chief creative officer, while Bergman and Pitaro retained their important positions, fostering a supportive environment for D’Amaro's leadership.

"If you're fortunate to have world-class executives, you keep them," Gorman remarked, highlighting the importance of maintaining a cohesive team. As the new era of Disney unfolds, Gorman remains optimistic, "This company creates joy and happiness. It's iconic, and I'm proud of the professionalism and passion everyone has shown during this transition." With Gorman's guidance and a strong board, Disney looks poised to continue its legacy of wonder and imagination.