Morgan Stanley CEO James Gorman to Step Down Within Next 12 Months
Morgan Stanley CEO James Gorman announced at the bank’s annual shareholder meeting that he will step down from his position within the next 12 months.
While the specific timing of the transition has yet to be determined, Gorman stated that both he and the board expect the change to occur unless there is a significant shift in the external environment.
Gorman, who has been one of the longest-serving heads of a US bank, assumed the role of CEO in January 2010.
Following his departure as CEO, Gorman will take on the role of executive chairman for a period of time to facilitate a smooth transition to the next phase of leadership at Morgan Stanley.
The board of directors has identified three senior internal candidates who are being considered as potential successors for the chief executive position.
Gorman expressed his confidence that Morgan Stanley is well-insulated from the turbulence in the banking sector, particularly in light of the recent collapses of three regional lenders.
Drawing on his extensive experience, he remains highly optimistic about the future of Morgan Stanley and the broader economy.
As the transition unfolds, Gorman’s shift to the executive chairman role will provide stability and support during the leadership change, ensuring a seamless continuation of the company’s operations and growth trajectory.
