Disney names Josh D'Amaro as new CEO
Add Axios as your preferred source to
see more of our stories on Google.
Photo: David Paul Morris/Bloomberg via Getty Images
Josh D'Amaro is the new CEO of The Walt Disney Company.
Why it matters: The news marks the end of an era — again — as Disney prepares for the exit of Bob Iger, who helped build the company into an even larger powerhouse of brands through major acquisitions.
What they're saying: "Josh D'Amaro possesses that rare combination of inspiring leadership and innovation, a keen eye for strategic growth opportunities, and a deep passion for the Disney brand and its people — all of which make him the right person to take the helm as Disney's next CEO," James Gorman, chair of Disney's board, said on Tuesday.
- "Josh D'Amaro is an exceptional leader and the right person to become our next CEO," Iger said.
Context: D'Amaro started at Disney in 1998 and has worked across the theme parks business. In 2020, he became chair of Disney Experiences, which manages parks, cruises, video games and consumer products.
- D'Amaro has overseen its 12 theme parks and led its expansion to the Middle East with a new park under construction in Abu Dhabi.
- He's also vastly growing its cruise business. He spearheaded its investment in Epic Games, which includes bringing Disney characters to Fortnite.
The big picture: This will be Iger's second exit as CEO. He stepped down in 2020 after 15 years, handing the keys to the castle to Bob Chapek, a longtime Disney executive who led the parks division. But in 2022, Chapek was fired and Iger brought back.
- This time, Gorman who was previously CEO of Morgan Stanley, has been managing the succession process. D'Amaro and entertainment co-chair Dana Walden had long been viewed as the leading internal contenders.
- Iger cemented a legacy by building Disney into a modern entertainment giant through meaningful acquisitions, including Pixar, Marvel, Lucasfilm and 21st Century Fox, and launching Disney+.
- Iger also expanded Disney's global footprint by expanding to China with Shanghai Disney and more recently to the Middle East.
What's next: Iger will remain at Disney until the end of the year to help with the transition.
- D'Amaro will become CEO on March 18 at the company's annual meeting.
- Disney also announced that Walden will become president and chief creative officer.
- Iger told associates he planned to spend more time on his superyacht and working with his wife, Willow Bay, on Angel City FC, per the Wall Street Journal.
Editor's note: This story was updated with additional context.
