Josh D'Amaro Appointed CEO of The Walt Disney Company
Josh D'Amaro has been appointed Chief Executive Officer of The Walt Disney Company, succeeding Bob Iger. The company's board of directors announced the appointment, which is effective March 18. Dana Walden, previously Co-chairman of Disney Entertainment, will assume the newly created role of President and Chief Creative Officer, reporting to D'Amaro.
Josh D'Amaro has been appointed Chief Executive Officer of The Walt Disney Company, succeeding Bob Iger.
Bob Iger will transition to a senior adviser and board member position before his retirement at the end of the year.
Leadership Transition
Josh D'Amaro will become the ninth Chief Executive Officer in The Walt Disney Company's history, with his appointment effective March 18. This transition follows a unanimous board vote on February 2.
Dana Walden, who joined Disney in 2019 and previously held leadership roles at 21st Century Fox, will assume the new position of President and Chief Creative Officer of The Walt Disney Co. In this capacity, she will report to Mr. D'Amaro.
Bob Iger, who led Disney from 2005 to 2020 and returned as CEO in 2022, will remain a senior adviser and board member until his retirement from the company at the end of the year. During his recent tenure, Mr. Iger implemented restructuring initiatives, including $5.5 billion in cost reductions and employee layoffs, which were credited with improving the company's financial performance. Mr. Iger expressed confidence in D'Amaro's leadership for the company's future.
Josh D'Amaro's Background and Prior Role
Mr. D'Amaro joined The Walt Disney Company in 1998, beginning his career as a sales and marketing executive. He holds a bachelor's degree in Business Administration from Georgetown University, graduating in 1993.
His career at Disney progressed through various leadership positions, including roles in finance, business planning, and management within Disney's Consumer Products Licensing division and multiple theme park operations. He served as Vice President of Disney's Animal Kingdom, overseeing the initial construction of Pandora – The World of Avatar, and later as President of Disneyland Park and Walt Disney World.
For nearly six years, Mr. D'Amaro served as the chairman of Disney Experiences, a division encompassing the company's theme parks, cruise ships, resorts, and consumer products globally.
Under his leadership, the Experiences division reported over $10 billion in revenue in its last quarter and $36 billion in annual revenue in fiscal 2025, contributing 71% of Disney's operating income. The division employs 185,000 Cast Members worldwide and includes 12 theme parks, 57 resort hotels, eight cruise ships, Disney Consumer Products, Walt Disney Imagineering, Disney Vacation Club, Adventures by Disney, Disney Institute, and Storyliving by Disney.
Key Initiatives at Disney Experiences:- Breaking ground on a new theme park in Abu Dhabi.
- Acquiring a stake in Epic Games (Fortnite) to explore new interactive platforms for Disney's intellectual property.
- Directing a multiyear $60 billion investment in cruise ships, resorts, and theme parks.
- Implementing price adjustments at Disney parks, which generated public discussion regarding affordability.
Industry Landscape and Strategic Focus
Mr. D'Amaro assumes leadership during a period characterized by significant shifts in the entertainment industry. The Walt Disney Company faces challenges from an evolving competitive landscape, including streaming services, tech companies, and user-generated content platforms. The decline of the cable business, a historical source of Disney's profits, also presents a financial challenge. Additionally, a decline in foreign visitors to domestic theme parks has been noted.
Despite these challenges, Disney has experienced recent successes, including robust box-office performances for films such as "Zootopia 2" and "Avatar: Fire and Ash," alongside growth in its streaming business.
Mr. D'Amaro views technology as an opportunity and has engaged in legal discussions concerning artificial intelligence (AI) and invested in companies like OpenAI. He has also addressed AI's potential impact on animation production and creative fields.
CEO Responsibilities and Future Direction:As CEO, Mr. D'Amaro's responsibilities will include:
- Leveraging Disney's intellectual property for new movies and theme park additions.
- Fostering streaming growth.
- Expanding the sports business.
- Overseeing entities such as Disney movies, 20th Century Studios, Marvel Studios, Lucasfilm, Pixar, ABC, FX, Hulu, and its theme parks and experiences.
The company aims to develop new intellectual property and revitalize key franchises, including Marvel, Star Wars, and Avatar.
Succession Process and Board Actions
The leadership transition followed a succession planning process initiated by Disney. A committee was established in 2023, and the search intensified in 2024 under the leadership of James Gorman, Disney's chairman and former Morgan Stanley executive chairman. This process facilitated the thorough vetting of candidates, aided by Mr. Iger's extended contract.
Internal candidates were widely considered, having received mentorship from Mr. Iger and interacting extensively with the 15-member board. Josh D'Amaro and Dana Walden emerged as leading contenders. Other candidates considered for the CEO position included Alan Bergman and Jimmy Pitaro.
Mr. Gorman commented on Mr. D'Amaro's vision and understanding of Disney's creative spirit, noting his track record and ability to combine Disney storytelling with technology in the parks.
Regarding Ms. Walden's appointment, Mr. Gorman emphasized the importance of creativity and intellectual property for Disney's core identity, stating that her role aims to ensure creative excellence across all businesses.