The Walt Disney Co. is tapping Morgan Stanley executive James Gorman to serve as its next chairman, beginning early next year.

The Walt Disney Co. has tapped James Gorman to lead its succession planning committee as the entertainment company continues to work toward finding someone to take over the helm from Bob Iger.

A police informant raped twice during an undercover drug buy in Louisiana has filed a lawsuit alleging her law enforcement handlers failed to monitor the sting in real time.

Activist investor Nelson Peltz is fighting for a seat on the board of Walt Disney Co., claiming that the theme park and media company is struggling with self-inflicted problems.

Mark Parker will step down as Nike's CEO next year after 13 years leading the footwear company. BEAVERTON, Ore. - Mark Parker will step down as Nike's CEO next year after 13 years leading the footwear company, Nike announced Tuesday. The shock announcement comes less than two years after Nike had said Parker would remain CEO "beyond 2020." Parker's legacy at NikeEven before becoming CEO, Parker had created a legacy for himself at Nike. Since becoming CEO, Parker has pushed the company to invest heavily in research and development and build up a massive patent portfolio.

The strong first quarter of fiscal 2020 is a sign that the "Consumer Direct Offense" strategy Nike announced in June 2017 is generating returns for the company. The company said gross margins grew to 45.7% in the quarter thanks to more profitability for Nike Direct, its direct-to-consumer business. In 2017, as part of the Consumer Direct Offense, Nike announced the "edit to amplify" strategy to pare down its offerings and focus on better-selling styles that drive higher returns. Further indicating the success of the Consumer Direct strategy, Nike's digital business grew 42% in the quarter, led by mobile and app experiences, Nike CEO Mark Parker said on a call with analysts Tuesday. The majority of this is a result of investments in Nike Direct and global operations.