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.

Iger returned to the top job in late 2022 for an initial period of two years after the ouster of his handpicked successor, Bob Chapek. The company has since extended its contract. In Iger’s first tenure, he and the board negotiated several extensions over 15 years.