Morgan Stanley’s James Gorman gives himself an A– as CEO

The decision, which was announced in May, was hailed as a model transition because it involved little internal turmoil and avoided the infighting that can sometimes accompany corporate succession. Pick took over from Gorman on New Year’s day, with Gorman staying on as executive chairman. 

“I do not want to be CEO anymore,” Gorman told the Financial Times. “I’ve loved it. I’ve loved all of it. I’ve done it for 14 years, that’s enough.” 

Gorman is already adjusting to his new downsized role. As CEO, at the beginning of each year, he would make a handwritten list of his priorities for the 12 months ahead. When asked during a Bloomberg interview earlier this week how that list might change now that he’s executive chairman and had stepped away from overseeing Morgan Stanley’s day-to-day operations, Gorman replied: “I didn’t write it this year.”  

While no longer a chief executive, Gorman will continue serving in top corporate posts in addition to his Morgan Stanley executive chairmanship, having been named to Disney’s board. In that role, Gorman may assist Disney with eventually finding a successor for its CEO, Bob Iger. Disney has struggled with doing so in recent years, leading to Iger’s returning for a second time as CEO in November 2022 after his successor, Bob Chapek, faltered. 

Gorman announced his intention to step down in May, saying he would do so within the next 12 months. In October, Morgan Stanley announced that Pick, who was then co-president, would succeed Gorman at the beginning of this year. 

During an almost decade and a half tenure, Gorman turned Morgan Stanley into the envy of Wall Street. The bank weathered the uncertainty and public distrust engendered by the 2008 financial crisis,…