Disney Names Josh D’Amaro as CEO, Succeeding Bob Iger

The Walt Disney Company has named Josh D’Amaro as its next chief executive officer, beginning a new era for one of the most closely watched companies in corporate America. D’Amaro, currently chairman of Disney Experiences, will assume the role effective March 18, succeeding Bob Iger, who will remain a Disney board member and senior advisor through the end of the year.

The announcement marks the second time in six years that Disney has selected a successor to Iger, whose initial handoff in 2020 ended in turmoil and ultimately prompted his return to the CEO role. This transition, company leaders said, has been designed to avoid a repeat of that instability.

“Josh D’Amaro is an exceptional leader and the right person to become our next CEO,” Iger said in a statement. “He has an instinctive appreciation of the Disney brand, and a deep understanding of what resonates with our audiences.”

A Carefully Managed Leadership Transition

D’Amaro’s appointment will take effect at Disney’s annual meeting. At that point, Dana Walden will step into a newly created role as president and chief creative officer, reporting directly to D’Amaro. Walden, currently co-chair of Disney Entertainment, will oversee Disney’s storytelling and content strategy across film, television, and streaming.

If you think about what is the heart of the Disney company, it’s creativity,” said James Gorman, Disney board chair and former Morgan Stanley CEO. “It’s the amazing intellectual property that’s been produced over decades.

The Disney board has spent several years vetting internal candidates for the top job. D’Amaro, Walden, ESPN chairman Jimmy Pitaro, and Disney Entertainment co-chair Alan Bergman were all interviewed by the succession committee as early as 2024. In recent months, speculation had narrowed primarily to D’Amaro and Walden.

Gorman said more than 100 potential candidates were considered during the process.

D’Amaro’s Rise Through the Company

D’Amaro steps into the CEO role after leading Disney’s experiences division, which includes theme parks, resorts, cruise lines, and consumer products. The unit has emerged as Disney’s most reliable growth engine during a period of disruption in traditional media.

In Disney’s most recent quarterly earnings report, the experiences division generated more than $10 billion in revenue for the first time, benefiting from strong attendance and pricing power at domestic and international parks. The division’s success has helped offset challenges facing Disney’s legacy television business.

Disney is also moving forward with plans to build a new theme park and resort in Abu Dhabi, separate from its previously announced $60 billion investment in parks and experiences over the next decade.

Wall Street Reaction and Business Challenges Ahead

D’Amaro inherits the CEO role at a time of both momentum and uncertainty. While Disney recently exceeded Wall Street expectations for earnings and revenue, its stock fell 7 percent following the report, reflecting investor caution about long-term growth and the state of the entertainment business.

Streaming remains a focal point, as Disney continues to navigate the erosion of traditional television while pushing its direct-to-consumer platforms toward sustained profitability. At the same time, the company is looking to capitalize on its box office dominance in 2025 and beyond.

Iger expressed confidence in the company’s direction during the earnings call Monday, saying Disney is positioned for future success following three years of restructuring.

“I’m incredibly proud of all that we’ve accomplished over the past three years to set Disney on the path to continued growth,” Iger said.

Following in Bob Iger’s Footsteps

Replacing Bob Iger is a formidable task. Iger has served roughly 20 years as Disney’s CEO across two tenures, overseeing the company’s transformation into a global entertainment powerhouse.

During his first 15-year run, Iger led major acquisitions that reshaped Disney’s portfolio and launched Disney+, which quickly became a central pillar of the company’s future. His initial departure in 2020 came earlier than expected and elevated then-parks chairman Bob Chapek to CEO.

That transition proved rocky. The COVID-19 pandemic shuttered theme parks and theaters while accelerating streaming growth. Although Disney’s stock surged early in the pandemic, investor confidence waned as earnings missed expectations and streaming growth slowed. By late 2022, mounting criticism of Chapek’s leadership led Disney’s board to bring Iger back.

Iger’s Second Act and Structural Overhaul

Upon returning as CEO, Iger focused on stabilizing the company rather than pursuing acquisitions. His second tenure centered on cost-cutting, restructuring, and restoring investor confidence.

Disney enacted $5.5 billion in cost reductions, laid off thousands of employees, and reorganized the company into three core divisions: Disney Entertainment; ESPN and Sports; and Parks, Experiences and Products. Iger also fought off an activist investor campaign and returned Disney to the top of the global box office.

As succession discussions resumed, Iger repeatedly emphasized the importance of a smooth transition.

“The importance of the succession process cannot be overstated,” he said when Disney extended his contract in 2023.

A Shortened Timeline for the Handoff

Although Iger was initially expected to remain CEO through the end of 2026, Tuesday’s announcement accelerates that timeline significantly. Gorman said Iger made the decision after mentoring potential successors and determining the company was ready.

“He said, ‘I want to step aside and I want to work with this individual, with this team, in ensuring we get off for this next decade on the strongest possible foot,’” Gorman said.

Unlike the 2020 transition, which included lingering power struggles between Iger and Chapek, Disney leadership expressed confidence this handoff will be smoother.

“We won’t have the drama we had last time,” Gorman said. “What matters is now.”

A Defining Moment for Disney’s Future

As CEO, D’Amaro will be tasked with guiding Disney through its next phase, balancing the strength of its theme parks with the evolving demands of global entertainment and streaming. His appointment reflects the board’s belief that operational discipline and brand stewardship are critical to Disney’s long-term success.

With Iger remaining as an advisor through the end of the year, Disney hopes this transition will provide stability, continuity, and a clear vision for the decade ahead.

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