The Walt Disney Company has announced a significant leadership transition, appointing Josh D’Amaro, current chairman of its immensely profitable parks and experiences division, as chief executive officer effective March 18. The 54-year-old company veteran will succeed Bob Iger, who has helmed the entertainment conglomerate for nearly two decades with a brief interruption in 2022.
D’Amaro’s selection concludes an extensive succession planning process and signals Disney’s strategic prioritization of its most reliable revenue generator. The Disney Experiences division under D’Amaro’s leadership has demonstrated exceptional financial performance, employing 185,000 personnel and generating $36 billion in revenue last year while overseeing 12 global theme parks and 54 resorts.
The newly appointed CEO brings nearly three decades of institutional knowledge to the role, having joined Disney in 1998 at Disneyland Resort. His tenure has included spearheading major projects including Star Wars: Galaxy’s Edge and World of Frozen, alongside managing digital initiatives such as Disney’s partnership with Epic Games, creator of Fortnite.
Board Chair James Gorman emphasized D’Amaro’s unique qualifications during a CNBC interview, noting he possesses not only financial acumen but also “great creative touch” – a crucial combination for leading the multifaceted media empire.
D’Amaro assumes leadership during a complex period for media companies, with Disney facing increased political scrutiny from conservative figures including Florida Governor Ron DeSantis over perceived “woke” values. The company recently garnered attention for temporarily suspending comedian Jimmy Kimmel following comments about conservative activist Charlie Kirk.
Concurrently, Disney announced the appointment of Dana Walden, previously co-chair of entertainment and considered D’Amaro’s primary competitor for the CEO position, to the newly created role of chief creative officer. Walden, known for her outside-of-work friendship with former Vice President Kamala Harris, will report directly to D’Amaro.
The leadership transition occurs as Disney continues Iger’s restructuring initiatives aimed at controlling streaming and film division costs, revitalizing ESPN’s sports media dominance, and expanding parks and cruise operations. Market reaction was initially cautious, with shares dipping approximately 1% following the announcement.