Disney has appointed Josh D’Amaro, the current head of its parks division, as the new CEO, succeeding Bob Iger. D’Amaro, who has been overseeing Disney’s theme parks, cruises, and resorts since 2020, will be the ninth CEO in the company’s history. The experiences division, which he leads, has been a significant revenue generator for Disney, bringing in $36 billion in annual revenue in fiscal 2025 and employing 185,000 people globally.
At 54 years old, D’Amaro takes the reins at a time when Disney is thriving with successful movies like “Zootopia 2” and “Avatar: Fire and Ash,” coupled with a strong streaming business. However, the entertainment industry is facing challenges such as the emergence of generative AI, the consolidation of streaming platforms, and concerns about governmental influence on entertainment companies.
The decision to appoint D’Amaro follows a tumultuous period for Disney after a failed attempt to replace Iger four years ago, leading to Iger’s return in 2022 due to performance issues under his successor, Bob Chapek.
Disney’s meticulous search for its next CEO began in 2024 when a succession planning committee was formed, with Gorman, a former Morgan Stanley executive chair, spearheading the effort. Iger will continue to serve as a senior advisor and board member until his retirement at the end of the year.
The leadership transition comes amidst scrutiny for Disney, particularly highlighted by controversies involving political influences on entertainment decisions. The company faced criticism for pulling “Jimmy Kimmel Live!” following comments made by the host. The situation raised concerns about potential government interference in the media landscape.
External and internal candidates were considered for the CEO role, but internal candidates like D’Amaro and Dana Walden emerged as frontrunners. D’Amaro, who has been with Disney since 1998, has played a pivotal role in the company’s investments in theme parks and licensing. Walden, in her role as co-chair of Disney Entertainment, has overseen the streaming business and content divisions.
D’Amaro and Walden will assume their new roles on March 18, with Walden taking on the position of chief creative officer. There were speculations about the possibility of co-CEOs, a trend seen in some other companies.