Josh D’Amaro, a 28-year Disney veteran, has been named the company’s new CEO, succeeding Bob Iger after a nearly three-year search.
D’Amaro, 54, will officially assume the CEO role and join the Disney board on March 18, coinciding with Disney’s annual shareholder meeting.
The big picture: Bob Iger, 74, will act as a senior adviser and board member until his contract expires on December 31, when he will fully retire from Disney.
- D’Amaro most recently chaired Disney Experiences, overseeing theme parks, cruises, and consumer products – a division that accounted for about 60% of Disney’s profits in the previous year.
Go deeper: Dana Walden was promoted to the newly created role of president and chief creative officer, becoming Disney’s first companywide chief creative officer in 103 years; she previously led Disney’s TV division and joined after the 21st Century Fox acquisition.
- The CEO job search focused on four internal candidates, with speculation that Walden was a likely front-runner before D’Amaro was chosen.
- Disney has a history of turbulent CEO transitions, including Iger’s previous return after a power struggle with Bob Chapek, who also rose from the parks division.
- The Disney CEO role commands a high public profile and substantial compensation, with Iger earning $45.8 million last year and D’Amaro’s first-year package estimated at $38 million.
What we’re watching: D’Amaro faces significant challenges, including the decline of traditional TV, the rise of streaming, competition from tech giants and the need to leverage artificial intelligence.
