“A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026. This timing reflects the progress the Succession Planning Committee and the Board are making, and will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026,” James Gorman said. The board’s succession planning committee is chaired by Gorman and includes directors Mary Barra and Calvin McDonald, as well as Mark Parker until his departure. The committee and the full board continue to undertake a succession planning process, including evaluation of transition structures and organizational frameworks, and planning for potential impacts of succession decisions across the company. The Committee met six times in FY24, consistently engaging with the full board on the substance of the decisions to be made. The board discussed succession planning at each of its regularly scheduled meetings in FY24. The committee and board continue to review internal candidates and external candidates.
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