Disney names parks leader Josh D’Amaro as next CEO, succeeding Bob Iger

Disney (DIS) announced Tuesday that Josh D’Amaro, the head of its parks and cruise businesses, will succeed Bob Iger as its next CEO in March as the company continues to navigate changes across its sprawling experiences, film, sports, and streaming units.

D’Amaro will take over the top role from Iger at the company’s annual meeting on March 18. D’Amaro will also join the company’s board following the meeting. Iger, who rejoined Disney as CEO in November 2022, will leave the company’s board at the end of the year.

D’Amaro has led Disney’s parks and cruise businesses — which operate under the company’s Experiences unit — since 2020. He joined Disney in 1998.

In its most recent quarter, Disney’s Experiences unit posted record revenue of $10 billion, accounting for nearly 40% of the company’s total revenue in the quarter, which tallied $26 billion. Disney’s operating income in its fiscal first quarter totaled $4.6 billion, of which $3.3 billion came from its Experiences unit.

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D’Amaro’s appointment comes after a protracted search to replace Iger, who returned to the company he led for 15 years following a turbulent tenure under Bob Chapek. Iger’s contract was set to expire at the end of 2026.

Chapek, who also led Disney’s parks business before taking over for Iger, was named as Disney’s CEO on Feb. 25, 2020, just weeks before the COVID pandemic shut down global travel. Disney said Tuesday that its board unanimously voted to approve D’Amaro’s appointment as its next CEO.

“Josh D’Amaro is an exceptional leader and the right person to become our next CEO,” Iger said in a statement.

“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.”

Alongside D’Amaro’s elevation, Disney also announced that Dana Walden, co-chair of its entertainment unit, would be named the company’s president and Chief Creative Officer, reporting directly to D’Amaro.

Recent reporting had suggested that D’Amaro would be named as Iger’s successor, concluding a process that had seen Walden, along with entertainment co-chair Alan Bergman and ESPN chairman Jimmy Pitaro all considered for the CEO job.