Iger returned to the top job in late 2022 for an initial period of two years after the ouster of his handpicked successor, Bob Chapek. The company has since extended its contract. In Iger’s first tenure, he and the board negotiated several extensions over 15 years.

Disney is about to have its fourth board chair in three years, as the company continues to navigate ongoing tumult in the media industry.

Walt Disney named Morgan Stanley veteran James Gorman as chair on Monday and said it would announce a replacement for CEO Bob Iger in early 2026, announcing for the first time a timetable for succession at the storied media and entertainment company.