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. Gorman previously served as Morgan Stanley’s CEO from 2010 to 2023 and chairman from 2012 to 2023.

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

The Walt Disney Company has named James Gorman chairman of the board, a seat he will take starting Jan. 2. He succeeds Mark Parker, who is stepping down from the role after nine years, the company said Monday.