Walt Disney on Wednesday named board member and Morgan Stanley executive chairman James Gorman to chair its succession planning committee, which is looking for the next chief executive officer.

The board has extended CEO Bob Iger’s retirement date five times. Iger retired once and was brought back in late 2022 to replace his hand-picked successor, Bob Chapek, Reuters reported.

Disney won a months-long proxy war with activist investor Nelson Peltz and is refocusing on finding Iger’s successor.

“Succession planning is a top priority of the Board,” Chairman Mark Parker said.

Gorman was Morgan Stanley’s CEO from 2010 to 2023 and will be ceding his role as executive chairman in December.

Meanwhile, an AP report added that there have been some notable successes under Iger since his return, including the first profit for Disney’s streaming service. Yet Disney has struggled to bring stability back to its parks division.

Gorman, who joined Disney’s board earlier this year, has previous succession planning experience, as he oversaw the process at Morgan Stanley.

Aside from Gorman and Parker, board members Mary Barra and Calvin McDonald will continue to serve on the succession planning committee.

Disney, which formed the succession planning committee in January 2023, said that the committee has met six times so far in fiscal 2024. The committee, along with the company’s board, are considering internal and external candidates.