Disney Expands Board to 13
Disney’s board of directors is expanding in the new year, with Morgan Stanley CEO James Gorman joining beginning February 5th and former Sky chief Jeremy Darroch on January 9th. In addition, former president and CEO of Illumina Francis A. deSouza won’t stand for reelection at Disney’s annual meeting “as he pursues new opportunities in the technology sector that will require his full attention.”
Naming Darroch and Gorman to the board “follows a lengthy and comprehensive search that began in April 2023,” and the new additions “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,” says the company.
“James and Jeremy are both widely respected in their industries, and their expertise will complement the talents and experience of the Disney board as we continue to focus on delivering for consumers and shareholders alike,” Disney board chairman Mary Parker said. “In the 14 years that James has been CEO of Morgan Stanley, he has overseen a strategic transformation of the institution and delivered significant shareholder value, and was integral to Morgan Stanley’s well-managed succession process over the past year. Jeremy brings extensive leadership in the international media business, and during his tenure at Sky, he led Sky’s successful transition from a linear satellite broadcaster to one of Europe’s largest multi-platform TV providers.”
Gorman and Darroch will be nominated in Disney’s proxy statement at the shareholders meeting in the spring.
