Disney names theme parks head Josh D'Amaro as new CEO

Walt Disney Co. selected taxable parks main Josh D’Amaro to beryllium the company’s adjacent main executive, culminating the astir closely-watched succession play successful Hollywood.

D’Amaro, who has tally the company’s pivotal parks and experiences part for six years, volition beryllium charged with steering the Burbank amusement elephantine done progressively turbulent times.

D’Amaro officially becomes main enforcement adjacent period astatine the company’s March 18 shareholder meeting.

He replaces Chief Executive Bob Iger, who plans to measurement down astatine that clip aft 2 decades successful the apical occupation revitalizing the company. Iger has pledged to enactment connected done the modulation and volition permission the institution erstwhile his declaration expires successful December.

Dana Walden, co-chairman of Disney Entertainment, has been named the company’s President and Chief Creative Officer.

“Josh D’Amaro is an exceptional person and the close idiosyncratic to go our adjacent CEO,” Iger said successful a statement. “He has an instinctive appreciation of the Disney brand, and a heavy knowing of what resonates with our audiences, paired with the rigor and attraction to item required to present immoderate of our astir ambitious projects.”

D’Amaro, who turns 55 this month, becomes conscionable the eighth main enforcement for the legendary 102-year-old company.

The Massachusetts native, who lives successful Orange County, is respected connected Wall Street and has agelong been a favourite among legions of Disney superfans who presumption him arsenic a charismatic cheerleader for Mickey Mouse, Buzz Lightyear and different inhabitants of the Magic Kingdom.

Within Disney, D’Amaro is known for his consensus-building style, his mastery of Disney’s chiseled civilization and for safeguarding its beloved brands.

D’Amaro joined Disney 27 years agone successful Anaheim’s Disneyland accounting department. His prima has agelong been rising arsenic helium steadily roseate done the ranks, moving successful finance, concern strategy and selling and yet starring Disneyland and past the larger Disney World Resort successful Florida.

A large promotion came successful precocious 2019 erstwhile helium was entrusted with each of the company’s taxable parks, cruise lines and its originative cadre of Imagineers.

His portfolio includes video games and user products. He’s overseen galore high-profile operation projects, including Star Wars: Galaxy’s Edge and the Marvel-themed Avengers Campus astatine Disneyland arsenic good arsenic the existent $60 cardinal enlargement of cruise lines and taxable parks, which includes plans for a caller task successful Abu Dhabi.

Now, helium volition oversee each of Disney and its 230,000 workforce arsenic the amusement colossus tries to soar successful the streaming property amid the erosion of the company’s erstwhile mighty bequest cablegram TV business.

He besides indispensable equilibrium the committedness of artificial quality without allowing it to destruct the worth of Disney’s characters and movie franchises. A further situation is to assistance Disney navigate the nation’s divisive governmental landscape.

Wall Street was pleased with the choice. Investors had been rooting for D’Amaro to win Iger. He bested 3 different elder executives for the job: Walden; movie workplace caput Alan Bergman; and ESPN Chairman Jimmy Pitaro.

D’Amaro’s elevation comes six years aft Disney’s disastrous CEO hand-off to then-parks main Bob Chapek, who was D’Amaro’s brag for galore years. Chapek was sacked aft little than 3 years successful the occupation — a chaotic play marked by COVID-19 pandemic closures and battles with Florida Gov. Ron DeSantis, histrion Scarlett Johansson and elder Disney executives.

Iger returned successful November 2022 to quell concerns among investors and Disney staff. He has spent the past 3 years putting the Mouse House backmost successful order, cutting costs with thousands of layoffs and readying for Disney’s future. The changes included transitioning ESPN into a stand-alone streaming app, laying the groundwork for the parks expansion, making a $1.5 cardinal concern successful “Fortnite” developer Epic Games to bolster Disney’s video games and preparing for this week’s long-anticipated succession.

“We person done a batch of fixing, but we’ve besides enactment successful spot a fig of opportunities ... to fundamentally grow astatine each determination that we bash concern and connected the precocious seas,” Iger said connected a February net telephone with Wall Street analysts.

CEO of Disney Bob Iger arrives astatine the Sun Valley Lodge for the Allen & Company Sun Valley Conference connected July 11, 2023 successful Sun Valley, Idaho.

(Kevin Dietsch / Getty Images)

Succession has been a apical precedence for Disney’s committee since James Gorman, erstwhile president and main enforcement of concern slope Morgan Stanley, took implicit successful aboriginal 2025 arsenic president of Disney’s board.

Seeking to debar different blunder, committee members formalized its succession planning, establishing a committee led by Gorman, who instituted a much rigorous evaluation. Gorman and different committee members spent clip with the CEO candidates to larn their strengths, weaknesses and visions for the future.

The board’s succession committee was comprised of Gorman, General Motors CEO Mary Barra, Lululemon Athletica CEO Calvin McDonald and Sir Jeremy Darroch, the erstwhile caput of Sky broadcasting successful Britain.

Iger spent hours mentoring the assorted candidates, including during Disney’s situation past September erstwhile ABC concisely suspended precocious nighttime comedian Jimmy Kimmel implicit remarks successful the aftermath of blimpish activistic Charlie Kirk’s killing.

Iger helped navigate the struggle amid outrage among governmental conservatives, President Trump and the president of the Federal Communications Commission. On the different side, free-speech advocates were furious that Disney appeared to beryllium acceptable to chopped ties with Kimmel to appease the Trump administration.

Instead, Kimmel extended his enactment done May 2027.

For D’Amaro, portion of the situation volition beryllium surviving up to the standards acceptable by Iger, who helped the institution prosper during his agelong career.

“Iger was truly the visionary woody shaper and the planetary marque quarterback,” said Bill Campbell, caput of probe for Paragon Intel successful Connecticut. “D’Amaro is truly the builder-operator who tin support the magic and marque the instrumentality much predictable.”

But Iger himself noted that the adjacent CEO would person to illustration a caller path.

“In the satellite that changes arsenic overmuch arsenic it does, successful immoderate signifier oregon different trying to sphere the presumption quo is simply a mistake,” helium said successful the February net call. “I’m definite that my successor volition not bash that.”