Disney named theme parks head Josh D’Amaro as its new CEO, following years of uncertainty over succession. D’Amer will take on the role from longtime CEO Bob Iger at the company’s annual investor meeting on March 18.
Iger has been credited with shaping modern Disney, through its deals for Pixar, Marvel and 21st Century Fox. He will stay on as senior adviser till his retirement from the company on December 31.
Disney also named entertainment co-chief Dana Walden, as chief content officer and president. Walden will be reporting to D’Amaro, and focus on the storytelling and content engine of Disney in the newly created role.
Who is Josh D’Amaro?
Josh D’Amaro is the head of theme parks at Disney. He joined the company in 1998, starting off at Disneyland Resorts. He then went on to spend more than two decades, moving through roles in finance, marketing strategy, and operations, before going on to lead both the Disneyland Resort, and the Walt Disney World Resort.
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D’Amaro was named chairman of Disney Experiences in 2020, overseeing global theme parks and resorts, Disney Cruise Line, consumer products, and Walt Disney Imagineering.
Iger, in a statement, called D’Amaro “an exceptional leader and the right person to become our next CEO.”
“He has an instinctive appreciation of the Disney brand, and a deep understanding of what resonates with our audiences, paired 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 am thrilled for Josh and the company,” Iger said.
The Disney board, led by former Morgan Stanley CEO James Gorman, have been vetting candidates for the role for the past few years.
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Iger’s four direct reports, D’Amaro, ESPN Chairman Jimmy Pitaro and Entertainment Co-Chairmen Dana Walden and Alan Bergman interviewed with the succession committee as early as 2024, according to CNBC.
In recent months, speculation narrowed to Walden and D’Amaro.
“We looked at all comers, we wanted whoever got this job to be the best person,” Gorman told CNBC’s Julia Boorstin Tuesday, adding there were more than 100 people on the list of prospective candidates.
“If you think about what is the heart of the Disney company, it’s creativity. It’s the amazing [intellectual property] that’s been produced over decades,” Gorman added.
D’Amaro will be stepping into the new role amid leadership uncertainty, and mixed reception from Wall Street on Disney’s business.