James Gorman discusses Disney's succession and proxy battle while preparing to join the board.

• James Gorman is preparing to become a member of Disney's succession planning committee to assist in selecting Bob Iger's replacement as CEO.
• Gorman stated Thursday that he possesses a vast amount of experience as he has served on Morgan Stanley's board for a long time.
• Morgan Stanley's CEO, Gorman, is retiring and will join Disney's board in February.

James Gorman, CEO of , announced on Thursday that he is preparing to join a succession planning committee at the company, which will assist the board in selecting Bob Iger's successor as CEO.

Disney will welcome Gorman to its board in February, as he steps down as Morgan Stanley CEO on January 1.

Last month, Disney revealed that Gorman and former Sky TV boss Jeremy Darroch were joining its board, with Darroch set to begin his tenure in January.

The move was intended to prevent a proxy fight by activist fund Trian and its CEO, Nelson Peltz, although Trian expressed dissatisfaction with the board appointments in a statement. Trian announced that it would advocate for Peltz and former Disney executive Jay Rasulo to be appointed to the board.

Morgan Stanley's succession process was expertly managed by Gorman, earning him praise.

Gorman informed CNBC's David Faber that he will be joining Disney's succession committee, although he won't begin as a director until February. He emphasized his extensive experience in running succession on Morgan Stanley's board.

Disney proxy fight was just another battle in Gorman's life, which he has dealt with before.

Disney announced in January that Gorman would be part of the succession committee.

Disney reappointed Iger as CEO in November 2022, after the tumultuous tenure of his hand-picked successor Bob Chapek. Iger had previously renewed his contract multiple times before being extended through 2026 in July.

In recent years, the company has faced challenges such as box office flops and streaming losses. Iger recently restructured the company, resulting in layoffs of 7,000 employees and a goal to reduce costs by $7.5 billion.

CNBC Leaders: James Gorman will be aired at 8 p.m. ET on Friday on CNBC.