The Board of the Walt Disney Company has appointed Morgan Stanley’s Executive Chairman James Gorman to lead the group who are evaluating candidates to succeed Bob Iger as the entertainment giant’s chief executive.

Gorman helped lead Morgan Stanley through the succession process after serving as the investment bank’s CEO. He joined Disney’s Board of Directors earlier this year.

In March, Disney told shareholders it would begin “reviewing internal and external candidates” to succeed Iger, who returned as chief executive two years ago after Disney’s Board ousted then-CEO Bob Chapek.

Iger is expected to step away from the CEO role in 2026. In the meantime, he is mentoring a group of executives who are candidates to serve as CEO once he leaves. Those executives include Disney Entertainment co-chairs Dana Walden and Alan Bergman; Josh D’Amaro, the Chairman of Disney Parks, Experiences and Products; and ESPN Chairman Jimmy Pitaro.

Disney is also evaluating external candidates, though it isn’t clear if they are receiving the same attention as internal executives who could succeed Iger in the role.

In a recent podcast, Iger said he thinks about his replacement “all the time,” noting that succession plans at Disney are “something that I’m obviously very focused on, not just because of the past, but because I’d like to retire again, and I’d like to leave the company in great hands.”

“That is my intention,” Iger said. “I’m now confident that not only will we do that, but we’ll do so on a timely basis that works for the company and hopefully works for me as well.”

Whoever is chosen to lead Disney after 2026 will take control of a vast empire of entertainment properties, including Disney’s theme parks, the Walt Disney film studio, Pixar Animation, ABC television and various domestic and international pay TV channels, along with Disney’s controlling stakes in Hulu and ESPN.