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Disney Names Parks Chief Josh D’Amaro as New CEO in Carefully Planned Transition
Disney has appointed Josh D’Amaro, the company’s parks division leader, to succeed Bob Iger as chief executive officer, marking a significant leadership change at the entertainment giant.
D’Amaro, 54, will become Disney’s ninth CEO in its more than century-long history. Since 2020, he has overseen Disney’s lucrative Experiences division, which includes theme parks, cruises, and resorts. This segment has been a substantial revenue generator for the company, bringing in $36 billion annually and employing approximately 185,000 people worldwide.
The leadership transition comes at a time of mixed fortunes for Disney. The company has enjoyed recent box-office successes with films like “Zootopia 2” and “Avatar: Fire and Ash,” while its streaming business continues to strengthen. However, Disney’s domestic theme parks have experienced a decline in international visitors amid broader U.S. tourism challenges, attributed partly to stricter immigration policies under the Trump administration and ongoing trade tensions with global partners.
In his new role, D’Amaro faces several strategic imperatives: leveraging Disney’s vast intellectual property portfolio to create successful films and theme park attractions, driving streaming growth, and building upon the company’s sports business ventures.
This CEO selection follows a tumultuous period in Disney’s executive history. In 2022, Iger returned to the CEO position just two years after stepping down, following financial underperformance and strategic missteps under his previously chosen successor, Bob Chapek.
Learning from that experience, Disney approached this succession with methodical care. The company established a dedicated succession planning committee in 2023, with the formal search accelerating in 2024 under the leadership of Disney’s chairman James Gorman, former executive chairman of Morgan Stanley. The extended timeline allowed for thorough vetting of candidates, facilitated by Iger’s contract extension.
Iger will remain with Disney as a senior adviser and board member until his retirement at the end of the year, ensuring a smooth transition.
While external candidates were considered, industry observers had anticipated an internal promotion. The company reportedly preferred candidates already mentored by Iger and familiar to Disney’s 15-member board. Disney’s unique corporate structure requires a CEO who can manage a diverse entertainment enterprise while serving as a highly visible public figure.
D’Amaro, a Disney veteran since 1998, has been spearheading the company’s ambitious $60 billion multi-year investment in cruise ships, resorts, and theme parks. His responsibilities have included overseeing Walt Disney Imagineering—the creative force behind the design and development of Disney’s immersive experiences worldwide—and leading the company’s licensing business, including its partnership with Epic Games.
“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,” Gorman stated. “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.”
In a significant organizational shift, Dana Walden, previously co-chairman of Disney Entertainment and another contender for the CEO role, has been appointed to the newly created position of president and chief creative officer. Walden, who joined Disney in 2019 after 25 years at 21st Century Fox, will report directly to D’Amaro.
Explaining the leadership structure, Gorman told CNBC: “The heart of the Disney company is the creativity. It’s this amazing IP that’s been produced over decades, going back to Walt, and the storytelling that comes from that creativity. Dana, working with Josh and ensuring that the best creativity permeates all of our businesses, is what we wanted.”
The appointments of D’Amaro and Walden will take effect on March 18, establishing a new leadership team to guide Disney through its next chapter in an increasingly competitive entertainment landscape.
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9 Comments
I’m curious to see how D’Amaro’s parks-focused background will influence his leadership as Disney’s new CEO. While the streaming business is critical, the theme parks and resorts remain a huge revenue generator. Striking the right balance between those priorities will be key to Disney’s continued success.
That’s a good point. D’Amaro will have to ensure the parks and resorts remain a priority even as Disney invests heavily in streaming. Managing that portfolio balance will be crucial.
Disney’s leadership transition comes at an important time for the company. While they’ve had recent box office successes, their domestic parks have faced headwinds from reduced international tourism. It will be interesting to see how the new CEO, with his parks experience, tackles these varied challenges across Disney’s business.
Agreed. D’Amaro’s background managing the parks division could give him valuable insights, but he’ll need to apply that expertise more broadly across Disney’s operations.
The transition from Iger to D’Amaro as Disney CEO seems like a carefully planned move to maintain continuity. D’Amaro’s experience running the parks division should serve him well, but he’ll need to demonstrate his ability to steer the broader company through the evolving media landscape.
Absolutely. While D’Amaro’s parks expertise is valuable, he’ll have to quickly expand his strategic vision to encompass Disney’s entire business. Navigating the streaming wars will be a major test.
Interesting move by Disney to promote their parks chief to CEO. D’Amaro has a lot of experience running their lucrative theme park and resort business, which will be crucial as the company navigates challenges like declining international tourism. I wonder how he’ll approach growing the streaming side of the business too.
Yes, D’Amaro’s deep knowledge of Disney’s parks and resorts will likely serve him well as CEO. Maintaining that revenue stream while also expanding the streaming service will be a key balancing act.
Disney’s leadership transition is an important moment for the company. While the parks business has been a reliable cash cow, the streaming wars have emerged as a critical battleground. It will be interesting to see how D’Amaro leverages his parks background to drive growth across Disney’s diversified operations.