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Josh D'Amaro Appointed CEO of The Walt Disney Company; Dana Walden Named Chief Creative Officer

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Disney Announces Josh D'Amaro as New CEO, Dana Walden as President & Chief Creative Officer

Josh D'Amaro has been appointed Chief Executive Officer of The Walt Disney Company, succeeding Bob Iger. Dana Walden has been named President and Chief Creative Officer, reporting to D'Amaro.

The leadership transition was widely reported to be effective March 18, following a unanimous board vote on February 2. Some reports specified the effective date as March 18, 2026, coinciding with the company's 2026 virtual shareholders meeting. Iger will transition to a senior adviser and board member role until the end of 2026.

Leadership Transition Details

The appointment of Josh D'Amaro marks him as the ninth CEO in Disney's history. Dana Walden, who previously served as Co-Chairman of Disney Entertainment, now assumes the newly created role of President and Chief Creative Officer of The Walt Disney Co.

The leadership succession process began with the establishment of a planning committee in 2023, intensifying the search in 2024 under the direction of James Gorman, Disney's chairman and former Morgan Stanley executive chairman. This process facilitated the vetting of candidates, including D'Amaro, Walden, Alan Bergman, and Jimmy Pitaro.

During the company's virtual shareholders meeting, Bob Iger was reelected to Disney's board for a one-year term. Shareholders also approved the remaining slate of recommended directors, which included Chairman James Gorman and new director Jeff Williams, along with the company's executive compensation plan.

Josh D'Amaro: Background and Strategic Direction

Background

D'Amaro, a 28-year veteran of Disney, joined the company in 1998 as a sales and marketing executive. He previously served as the chairman of Disney Experiences, a division encompassing theme parks, cruise lines, resorts, and consumer products. In this role, D'Amaro oversaw Walt Disney Imagineering and Disney's licensing business, including its partnership with Epic Games.

His tenure in Disney Experiences included a multiyear $60 billion investment in cruise ships, resorts, and theme parks, and groundbreaking on a new theme park in Abu Dhabi. The Experiences division recorded over $10 billion in revenue in a recent quarter, contributing 71% of Disney's operating income, and generated $36 billion in annual revenue in fiscal year 2025, employing 185,000 people globally.

D'Amaro graduated from Georgetown University with a bachelor's degree in Business Administration in 1993. His career progression at Disney included various leadership positions such as vice president of sales and travel trade marketing, chief financial officer of Disney Consumer Products Licensing, and president of Walt Disney World.

He is characterized by sources as a relatable, confident, and competitive leader known for his hands-on approach, empathetic engagement with employees during events such as layoffs, and attention to operational details.

D'Amaro has indicated his intention to rely on Dana Walden's expertise in Hollywood. D'Amaro's annual compensation as CEO is projected to be between $38.5 million and $44.7 million in his first year, an increase from his previous undisclosed compensation of less than $6.2 million in 2025.

Strategic Priorities

Upon assuming leadership, D'Amaro outlined several strategic priorities:

  • Developing Disney+ into the company's "digital centerpiece," integrating various content and experiences.
  • Combining Disney+ and Hulu into a unified streaming experience.
  • Integrating ESPN's content, including ESPN Unlimited.
  • Maintaining a primary focus on "great storytelling and creative excellence."
  • Implementing a "One Disney" approach, fostering collaboration across company divisions.
  • Leveraging Disney's intellectual property for new movies and theme park additions.

Specific projects mentioned include the scheduled release of "Toy Story 5" in June and the launch of the next Disney Cruise Line ship, "Disney Believe," in late 2027.

Bob Iger's Tenure and Transition

CEO Terms

Bob Iger's career with Disney began in 1974 at ABC. He first served as Disney's CEO from October 2005 to February 2020. He returned to the CEO role in November 2022, replacing Bob Chapek. Iger's combined tenure as CEO spanned over 17 years.

Key Achievements & Challenges

During his initial term, Iger oversaw significant acquisitions, including:

  • Pixar in January 2006 for $7.4 billion.
  • Marvel Entertainment in December 2009 for $4 billion.
  • Lucasfilm in December 2012 for $4 billion.

A 2024 analysis from the Yale School of Management's Chief Executive Leadership Institute indicated these acquisitions generated substantial revenue.

Other acquisitions included Maker Studios in 2014 for $675 million and Club Penguin, which later faced setbacks or were scaled back. The $71 billion acquisition of 21st Century Fox in 2019 provided key assets such as a stake in Hulu and content engines like FX, Avatar, and The Simpsons. This deal faced criticism from some on Wall Street and an activist investor, though Yale's analysis suggested Disney's net cost was closer to $45 billion after divestments.

Iger's second term involved addressing industry challenges, including AI integration, labor disputes, and workforce reductions. He implemented restructuring, achieved $5.5 billion in cost reductions, and guided Disney+ towards profitability. The company reported a 19% adjusted earnings per share (EPS) compound annual growth rate over the past three fiscal years and reinstated and increased its dividend since 2023. During this period, Disney released five global franchise films that surpassed $1 billion at the worldwide box office. His compensation in 2025 was $45.8 million.

Iger expressed confidence in D'Amaro's leadership and the company's future during a prerecorded farewell address. Following his departure as CEO, Iger plans to dedicate time to non-Disney pursuits, including managing his controlling stake in the women’s professional soccer team Angel City FC, acquired in 2024.

Company Landscape and Performance

Industry Challenges

The Walt Disney Company operates within an entertainment industry marked by significant shifts. Challenges include an evolving competitive landscape with streaming services, tech companies, and user-generated content platforms, alongside a decline in the cable business. Reports also cited a decline in foreign visitors to domestic theme parks.

Strengths & Future Outlook

Despite these challenges, Disney's Experiences division continues to be a strong performer. The company's streaming operations have consistently achieved profitability over consecutive quarters, and recent box office releases, such as "Zootopia 2" and "Avatar: Fire and Ash," have performed robustly. The company has committed to substantial investments in its theme park division, including the expansion with a theme park and resort in Abu Dhabi.

Public discussions have occurred regarding affordability following price increases at Disney parks under D'Amaro's previous leadership. Disney has also engaged in legal discussions regarding artificial intelligence and invested in companies like OpenAI, while also addressing AI's impact on animation production and creative fields.