Disney names Morgan Stanley’s James Gorman as one of new board directors

The Walt Disney Company (DIS) Board of Directors has appointed James P. Gorman, Chairman and Chief Executive Officer of Morgan Stanley (MS), and Sir Jeremy Darroch, a veteran media executive and former Group Chief Executive of Sky, as new directors. Darroch’s appointment is effective January 9, 2024, and Gorman’s is effective February 5, 2024. The company states: “The selection of Gorman, a deeply respected leader at one of the world’s preeminent global financial institutions, and Darroch, an accomplished chief executive and financial leader with significant experience in the international media and consumer products sectors, follows a lengthy and comprehensive search that began in April 2023. Their appointments reflect Disney’s commitment to a strong board focused on the long-term performance of the company, strategic growth initiatives, the succession planning process, and increasing shareholder value. Gorman and Darroch will be included in the company’s slate of director nominees in the proxy statement for Disney’s 2024 Annual Meeting of Shareholders. Disney board member Francis A. deSouza has decided not to stand for reelection at the annual meeting, as he pursues new opportunities in the technology sector that will require his full attention. ”