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Josh D’Amaro will be the next CEO of The Walt Disney Corporation, succeeding current CEO Bob Iger, the company announced on Tuesday, February 3 after a years-long selection process. D’Amaro, the current head of Disney’s parks division and a 28-year veteran of Disney, won’t wait long until formally being named into the new role, as he takes the job effective March 18.
In addition, Dana Walden, who currently leads the studios segment, has been promoted to President and Chief Creative Officer, also effective in March. She’ll report directly to D’Amaro and have oversight over creative decisions at Disney.
Iger in March will transition to a Senior Advisor role and a member of Disney’s board, and he will formally retire on December 31, 2026.
“Josh D’Amaro possesses that rare combination of inspiring leadership and innovation, a keen eye for strategic growth opportunities, and a deep passion for the Disney brand and its people – all of which make him the right person to take the helm as Disney’s next CEO,” said James Gorman, Chairman of The Walt Disney Company Board of Directors, in an official statement. “Throughout this search process, Josh has demonstrated a strong vision for the company’s future and a deep understanding of the creative spirit that makes Disney unique in an ever-changing marketplace. He has an outstanding record of business achievement, collaborating with some of the biggest names in entertainment to bring their stories to life in our parks, showcasing the power of combining Disney storytelling with cutting-edge technology. The Board believes he is exceptionally well prepared to guide this global company forward to serve our consumers around the world and create long-term value for shareholders.”
“Josh D’Amaro is an exceptional leader and the right person to become our next CEO,” said Iger, CEO, The Walt Disney Company. “He has an instinctive appreciation of the Disney brand, and a deep understanding of what resonates with our audiences, paired with the rigor and attention to detail required to deliver some of our most ambitious projects. His ability to combine creativity with operational excellence is exemplary and I am thrilled for Josh and the company.”
“I am immensely grateful to the Board for entrusting me with leading a company that means so much to me and millions around the world,” said D’Amaro, incoming CEO of The Walt Disney Company. “Disney’s strength has always come from our people and the creative excellence that defines our stories and experiences. There is no limit to what Disney can achieve, and I am excited to work with our teams across the company and brilliant creative partners to honor Disney’s remarkable legacy while continuing to innovate, grow, and deliver exceptional value for our consumers and shareholders. I also want to express my gratitude to Bob Iger for his generous mentorship, his friendship, and the profound impact of his leadership.”
Iger ran Disney from 2005 to 2020, leading one of the most lucrative periods for Disney that saw it bring Marvel, Lucasfilm, Pixar, and 20th Century Fox all under the Mouse House. But after Bob Chapek took over just as the pandemic was kicking off, Iger made a shocking return to Disney back as CEO in November 2022, taking over after the company reported a loss of $1.5 billion in a quarter from Disney+. Iger has since righted the ship, making the streaming division profitable, launching a standalone ESPN streaming app, and completing the full acquisition of Hulu and swiftly folding it into Disney+.
Iger was only supposed to remain as CEO for two years before a successor was announced, but instead his contract was extended another two years to bring him through 2026. Disney’s board then as a result was committed to getting this transition right this time, looking at other internal candidates and a few notable external names.
In that four years, however, a lot has happened under Iger’s tenure. He reshaped the company’s operating structure, dismantling the structure Chapek had put together and giving power back to the creative divisions, but he also cut thousands of jobs in billions of dollars of cost savings in the process. Iger ruffled some feathers when he publicly floated a sale of ABC and Disney’s other cable networks, saying they might not be a “core” part of Disney’s business, but so far he’s kept the linear channels intact while competitors like Comcast and Warner Bros. Discovery have spun off their cable networks.
He also has stressed a “quality over quantity” ethos across the company, for one scaling back the sheer number of Marvel series and spreading out their rollout to help mitigate the fatigue that has set in for the superhero brand.
Iger also has moved Disney forward in the world of AI (for better or worse for the industry), saying that he intends to introduce user-generated AI content to Disney+. He also struck a landmark deal with OpenAI that would allow Disney characters to appear in its video generation tool Sora 2, a stark contrast after leading a lawsuit against fellow AI company Midjourney and after Disney has historically been incredibly protective of its intellectual property. (Remember the Disney Vault?)
More to come…
English (US) ·