Bloomberg Talks: Disney Chairman James Gorman on CEO Succession, Bob Iger’s Legacy, and Disney’s Future

Date: February 3, 2026
Guest: James Gorman (Disney Chairman)
Host: Bloomberg
Episode Theme:
This episode revolves around Disney’s recent announcement naming Josh D’Amaro as Bob Iger’s successor as CEO. Chairman James Gorman joins the show to discuss the selection process, Disney’s leadership strategy, Bob Iger’s role during the transition, the reasoning behind other key executive appointments, and Disney’s outlook for the future.

Main Theme and Purpose

The central focus is Walt Disney Company’s long-anticipated CEO succession—why Josh D’Amaro was chosen, how the board navigated a deep bench of internal talent, Bob Iger’s legacy, and how the company is structuring itself for a creative, competitive future. James Gorman offers candid, strategic insight into Disney’s leadership transition following a global talent search.

Key Discussion Points & Insights

1. Why Josh D’Amaro Was Chosen as CEO

• Global Search & Exceptional Leadership:
  Gorman emphasizes D’Amaro’s standout performance, deep Disney experience, and global operational expertise—including recent expansion projects in the UAE.

  "He’s the person for this time. So Josh is just a standout executive. We looked all over the world, as you could imagine...he beat all comers." —James Gorman [01:01]

• Strategic & Creative Strengths:
  D’Amaro is credited with blending strategic vision, creative instincts, and global leadership. Bob Iger specifically lauded his “exceptional taste.”

2. Succession Planning Process & Other Candidates

• Thorough, Internal and External Evaluation:
  The board and its succession committee considered over 100 candidates, both inside and outside the company, narrowing to a final four internal talents: Dana Walden, Alan Bergman, Jimmy Pitaro, and Josh D’Amaro.

  "We had a list...must have been over 100 people initially that we thought about, we considered, we evaluated. We ended up talking to several executives outside the company..." —James Gorman [07:18]

• Retention of Top Talent:
  Ensuring roles for other finalists (e.g., promoting Dana Walden to President & CCO) was integral to avoid losing key leaders.

  "If you don’t want to keep talented executives, there’s something wrong with you." —James Gorman [06:23]

3. Bob Iger’s Role and Transition

• Two Eras of Leadership & Critical Returns:
  Gorman recounts Iger’s extraordinary 15-year run—the acquisitions (Pixar, Lucasfilm, Marvel, Fox), shepherding Disney through COVID, and prepping the leadership bench.

  "He did deals that you know, nobody else on the planet could have done, frankly. He worked with Steve Jobs, George Lucas, Rupert Murdoch..." —James Gorman [03:05]

• Selfless Transition:
  Iger indicated to the board when his successors were ready. He will mentor D’Amaro until the end of 2026 but will not stay as chair or “chairman emeritus.”

  "Bob came to us...and said they’re ready. I mean, Josh is ready, he’s ready to take over. If the board’s will is to move on this, I want to step aside and...work with Josh as a senior adviser." —James Gorman [03:48]

4. Executive Structure and Culture

• Emphasis on Creativity:
  Dana Walden’s elevation to President & Chief Creative Officer is meant to keep creative storytelling at the core, spanning parks, studios, ESPN, TV, and cruise businesses.

  "That’s to ensure that the leadership team at the heart of this company is creativity and storytelling." —James Gorman [05:38]

• Retainment Strategy:
  Gorman is enthusiastic about keeping all top executives on the Disney team for the long term, stressing the rarity and difficulty of cultivating such talent.

5. Addressing Comparisons to Bob Chapek and Park-Leader Precedents

• D’Amaro vs. Chapek:
  When asked about the similarity to Bob Chapek’s ascent from parks to CEO, Gorman insists each leader is considered as an individual.

  "Josh is incredibly innovative. What he’s done in the imagineering space with those creative teams...this is not an operations job. This is an operations and a creative job." —James Gorman [09:02]

• Leadership Potential Over Resumes:
  Gorman points to his own background for context:

  "I ran Morgan Stanley for 14 years. I’d never been a trader, I’d never been a banker. You know, you take people for what they can do..." —James Gorman [09:44]

6. James Gorman’s Own Future

• Staying with Disney:
  Despite speculation, Gorman dismisses a return to finance. He intends to help Disney, mentor its leaders, and maximize the company’s value.

  "I’m not interested in going back… I want to help the Walt Disney Company and help Josh and the new leadership team…" —James Gorman [10:36]

• Bullish on Disney’s Potential:
  Expressing surprise at Disney’s valuation:

  "This company’s trading at 15 times earnings. That’s nuts. I mean, honestly, there are very few companies that have this quality of assets, this quality of bones as I call it, than what we have." —James Gorman [10:52]

Notable Quotes & Memorable Moments

• D’Amaro’s Unique Fit:
  "He has great creative instincts. He has what Bob Iger calls exceptional taste… he beat all comers. So we’re thrilled." —James Gorman [01:01]

• On Bob Iger’s Return:
  "When the company got in trouble… they invited Bob to come back… There were two mandates: get us through the very difficult post-Covid period, and make sure the lead executives… would be ready for prime time." —James Gorman [03:15]

• Succession Process:
  "We wanted to look at all comers… so that included external, it included internal, and included the four [candidates] that you talked about." —James Gorman [07:41]

• Retaining Talent:
  "Finding talent, developing talent is really hard. So when you got it, you do what you can to retain it." —James Gorman [06:43]

• Independence of Judgment:
  "We look at the individual. We don’t look at, you know, just buyers, whatever. I mean, you’ve got to look at what the individual has done." —James Gorman [09:06]

• On His Commitment to Disney:
  "I want to help the Walt Disney Company… help Josh and the new leadership team… there are tremendous moats around the businesses. I’m excited about the prospect of what we can see from Disney over the next several years." —James Gorman [10:36, 11:01]

Timeline of Important Timestamps

• 00:38 — News Introduction & Announcing Josh D’Amaro as Successor
• 01:01 — Why Josh D’Amaro? Gorman explains the choice
• 02:02 — CEO Succession Goals & Coordination with Iger
• 03:05 — Bob Iger’s legacy & motivation to transition now
• 04:56 — Discussion of Iger’s advisory role and leadership structure
• 06:23 — Rationale behind Dana Walden’s new role, keeping other top execs
• 07:18 — Depth and process of the CEO search (internal/external)
• 09:02 — Parallels with Bob Chapek, why D’Amaro is different
• 10:29 — Discussion of Gorman’s own plans and commitment
• 10:52 — Gorman’s bullish perspective on Disney’s value

Conclusion

James Gorman offers a transparent look at Disney’s decision-making as it ushers in a new CEO. The episode is full of unique insight into the company’s internal dynamics, Gorman’s personal and strategic philosophy, and the board’s focus on fostering creativity and retaining world-class leadership. The conversation makes clear that Disney sees itself at the start of a new decade of storytelling and innovation, with Josh D’Amaro and a seasoned executive team at the helm.