Disney names theme parks chief to succeed Bob Iger as CEO
michelle chapman
Disney has appointed parks chief Josh D’Amaro to replace Bob Iger as the entertainment giant’s top executive.
D’Amaro assumes the role after serving as President of Disney Experiences since 2020, leading efforts for the company’s theme parks, cruises and resorts.
The 54-year-old actor steps into the position at a time when Disney is full of blockbuster movies. Zootopia 2 And Avatar: Fire and Ash and its publishing business is strong. But the company is also facing a decline in the number of foreign visitors to its domestic theme parks. Tourism to the United States has plummeted due to the Trump administration’s aggressive crackdown on immigrants and conflicts with nearly all of the country’s trading partners.
The decision on Disney’s next chief executive comes nearly four years after the company’s decision to replace Iger ended in disaster, forcing him back to work.
Iger returns to Disney in 2022, just two years after stepping down as CEO, following a series of conflicts, missteps and flagging financial performance under his hand-picked successor, Bob Chapek.
“We’re not going to have the same drama we had last time, I can assure you,” Disney Chairman James Gorman said in an interview with CNBC on Tuesday.
This time, Disney meticulously and methodically searched for its next CEO. The company formed a succession planning committee in 2023, but the search began in earnest in 2024 when Disney tapped Gorman, who previously served as Morgan Stanley’s executive chairman, to lead the effort. Since Iger agreed to a contract extension, this still gave him plenty of opportunity to vet candidates.
Disney said Iger will continue to serve as a senior advisor and board member until his retirement from the company at the end of the year.
It was widely expected that Disney would seek the next CEO from within while external candidates were being considered. The advantage was that Disney executives were already guided by Iger and had extensive contact with the company’s 15 board members, of which Iger is a member.
Disney is unique in that its top executive oversees a growing entertainment company with branches stretching in every direction while also serving as an unusually public figure.
D’Amaro and Disney Entertainment Co-President Dana Walden quickly became frontrunners for the top job.
D’Amaro, who has been with Disney since 1998, oversees Disney’s multi-year $60 billion investment in cruise ships, resorts and theme parks. He also runs Walt Disney Imagineering, which is responsible for the design and development of the company’s theme parks, resorts, cruise ships and immersive experiences around the world. D’Amaro also oversees Disney’s licensing business, which includes its partnership with Epic Games.
In his last role as co-chairman of Disney Entertainment, Walden helped oversee Disney’s streaming business as well as its entertainment media, news and content businesses. He joined Disney in 2019. Before that, Walden spent 25 years at 21st Century Fox and was CEO of Fox Television Group.
Walden will now step into the newly created role of chief creative officer of The Walt Disney Co. He will report to D’Amaro.
There was speculation that Disney might seek to appoint joint CEOs, a move that is becoming more popular among companies. Oracle and Spotify are also among those appointed as joint CEOs in 2025.
D’Amaro and Walden’s appointments will be effective March 18.
access point
The Business Briefing newsletter delivers big stories, exclusive news and expert insights. Sign up to receive it every weekday morning.
