Washington, Oct 21 (AP) The Walt Disney Co. is tapping Morgan Stanley executive James Gorman to serve as its next chairman, beginning early next year. The entertainment giant also announced that it anticipates naming its new CEO in early 2026.

Gorman will become chairman on January 2, 2025. He will succeed Mark Parker, who is leaving after serving on Disney's board for nine years.

Also Read | US: Man Sentenced to Life for Stabbing Former Boss to Death After She Helped His Girlfriend Escape Abuse, Kept Body Outside Bedroom Window for Weeks in Florida.

Gorman is currently chair of Disney's succession planning committee. He serves as executive chairman at Morgan Stanley, but will be stepping down from that post at the end of the year.

“The Disney Board has benefited tremendously from James Gorman's expertise and guidance, and we are lucky to have him as our next Chairman – particularly as the Board continues to move forward with the succession process,” Disney CEO Bob Iger said in a statement on Monday. (AP)

Also Read | Pakistan Horror: Man Arrested for Killing Mother, 3 Other Female Family Members Over 'Liberal' Lifestyle in Karachi.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)