Josh D’Amaro picked to succeed Bob Iger
A Disney store in Manhattan, New York City, July 7, 2025.
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Disney to have named Disney Experiences chairman Josh D’Amaro is replacing Bob Iger as the next CEO, clinching a closely watched succession race at the Mouse House.
Investors, industry insiders and audiences have long awaited the announcement of who will be the next leader of one of America’s most established companies. This appointment marks the second time in six years that Disney has chosen Iger’s successor; The earlier election of park magnate Bob Chapek turned into a public display of corporate governance in which Iger took back the CEO position and restarted the clock in retirement.
D’Amaro’s appointment will take effect March 18 at Disney’s annual meeting. Iger will serve as a senior advisor and member of Disney’s board of directors until his retirement from the company on December 31.
“Josh D’Amaro is an extraordinary leader and the right person to be our next CEO,” Iger said in a statement. “He has an instinctive appreciation for the Disney brand and a deep understanding of what resonates with our audiences, combining this 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’m thrilled for Josh and the company.”
For the past several years, Disney’s board of directors, led by former Morgan Stanley CEO James Gorman, has been vetting candidates for the top job, primarily within Disney’s executive ranks. Four of Iger’s direct reports (D’Amaro, ESPN President Jimmy Pitaro, and Entertainment Co-Presidents Dana Walden and Alan Bergman) have interviewed the succession committee as early as 2024, CNBC previously reported.
In recent months, speculation has narrowed down to D’Amaro and Walden.
Tune in at 9 a.m. ET as Disney Chairman James Gorman joins CNBC TV to discuss the company’s succession plan. Watch in real time Streaming CNBC+ or CNBC Pro.
Walden, meanwhile, was named president and chief creative officer on Tuesday as part of the transition announcement. Also starting March 18, Walden will report directly to D’Amaro and focus on Disney’s storytelling and content engine.
D’Amaro stepped into his role at Disney after a period of leadership uncertainty and mixed reactions from Wall Street regarding Disney’s business situation. On Monday, Disney reported quarterly earnings and revenue that beat expectations, driven by theme parks and streaming, but shares lost 7%. Iger told investors he is confident about the changes made at Disney over the past three years and its path to future success.
Its experiences unit, which primarily includes theme parks, resorts and cruises, reported quarterly revenue of more than $10 billion for the first time in the period. The growth of the department left him with a wide field of work.
Apart from its commitment to invest $60 billion in theme parks over the next decade, the company plans to develop a new theme park and resort in Abu Dhabi and aims to capitalize on its box office dominance in 2025. But Disney remains front and center in the entertainment industry as it tries to tackle the erosion of traditional TV and increase profitability in its streaming business by putting its efforts behind major content.
It will be up to Iger’s successor to lead Disney to the next level.
Following in Iger’s footsteps
Bob Iger, CEO of The Walt Disney Company, appears at the Disney Entertainment Showcase at D23: The Ultimate Disney Fan Event on August 9, 2024 in Anaheim, California.
Araya Doheny | Getty Images Entertainment | Getty Images
Leading a media and theme park conglomerate like Disney is no easy task. Neither of them are replacing Iger.
The storied CEO has been at the helm of Disney for nearly 20 years, combining two roles. Following his career at Disney’s broadcast network ABC, Iger first served as Disney’s CEO for 15 years and later took on leadership roles at the parent company. This is my first time resigning in 2020.
In a swift announcement, Disney announced that Chapek, who most recently served as president of Disney Parks, will take over as CEO. Iger’s announcement came earlier than expected, and the selection of his successor surprised the industry at large.
During Iger’s first tenure at the helm, he oversaw acquisitions and transformed the company into a powerhouse. When he left in 2020, his list of accomplishments was long and included Disney+, the recently launched streaming service that initially quickly garnered subscribers.
However, his handover to Chapek was mired in drama and overshadowed by the Covid pandemic; This spurred stay-at-home orders that closed movie theaters and theme parks, but it was a boon for streaming.
Disney’s shares were on the rise early on as subscriber numbers rose during the pandemic. But toward the end of 2021, under Chapek, Disney’s stock price began to slide as the company reported earnings misses and slower streaming growth compared to Wall Street’s expectations.
In late 2022, Iger regained the top job as criticism of Chapek’s management of Disney grew. Even though Iger’s agenda included restructuring the company he left behind less than two years ago, the announcement boosted the company’s shares.
In his second stint as CEO, Iger focused less on acquisitions and more on a massive restructuring that imposed $5.5 billion in cost cuts, enacted layoffs and created three major divisions of the company: Disney Entertainment; ESPN and Sports; and Parks, Experiences and Products.
“I am incredibly proud of everything we have accomplished over the past three years to put Disney on a path of continued growth. I am inspired and energized by the opportunities ahead of this great company,” Iger told investors on Monday.
Iger also fended off an activist campaign, guided his television and streaming business to profitability, returned Disney to the top of the box office, and announced a massive investment in theme parks, arguably his most challenging job.
Finding the next Bob
Disney CEO Bob Iger points to the field before a game between the LA Clippers and Phoenix Suns at the Intuit Dome on October 24, 2025 in Inglewood, California.
Jordan Teller/isi photos | Ray photos | Getty Images
As Iger works to get the business back on track, the succession issue has come up once again.
Shortly after returning as CEO, Iger told CNBC that he had no intention of staying longer than two years.
Like previous times when Iger said he intended to resign, his tentative departure date was postponed. by mid-2023 Disney extended Iger’s deal by two years and said it would name a successor in early 2026.
As part of the contract extension, the CEO said he wanted to “ensure Disney is in a strong position” for the next person to take on the role.
“The importance of the succession process cannot be overstated,” Iger said in a statement at the time.
