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

Disney (DIS) announced Tuesday that Josh D'Amaro, the caput of its parks and cruise businesses, volition win Bob Iger arsenic its adjacent CEO successful March arsenic the institution continues to navigate changes crossed its sprawling experiences, film, sports, and streaming units.

D'Amaro volition instrumentality implicit the apical relation from Iger astatine the company's yearly gathering connected March 18. D'Amaro volition besides articulation the company's committee pursuing the meeting. Iger, who rejoined Disney arsenic CEO successful November 2022, volition permission the company's committee astatine the extremity of the year.

D'Amaro has led Disney's parks and cruise businesses — which run nether the company's Experiences portion — since 2020. He joined Disney successful 1998.

In its astir caller quarter, Disney's Experiences portion posted grounds revenues of $10 billion, accounting for astir 40% of the company's full gross successful the quarter, which tallied $26 billion. Disney's operating income successful its fiscal archetypal 4th totaled $4.6 billion, $3.3 cardinal of which came from its Experiences unit.

D'Amaro's assignment comes aft a protracted hunt to regenerate Iger, who returned to the institution helium led for 15 years pursuing a turbulent tenure nether Bob Chapek. Iger's declaration was acceptable to expire astatine the extremity of 2026.

Chapek, who besides led Disney's parks concern earlier taking implicit for Iger, was named arsenic Disney's CEO connected February 25, 2020, conscionable weeks earlier the COVID pandemic unopen down planetary travel. Disney said Tuesday that its committee unanimously voted to o.k. D'Amaro's assignment arsenic its adjacent CEO.

"Josh D’Amaro is an exceptional person and the close idiosyncratic to go our adjacent CEO," Iger said successful a statement.

"He has an instinctive appreciation of the Disney brand, and a heavy knowing of what resonates with our audiences, paired with the rigor and attraction to item required to present immoderate of our astir ambitious projects. His quality to harvester creativity with operational excellence is exemplary and I americium thrilled for Josh and the company."

Alongside D'Amaro's elevation, Disney besides announced that Dana Walden, co-chair of its amusement unit, would beryllium named the company's president and Chief Creative Officer, reporting straight to D'Amaro.

Recent reporting had suggested that D'Amaro would beryllium named arsenic Iger's successor, concluding a process that had seen Walden, on with amusement co-chair Alan Bergman and ESPN chairman, Jimmy Pitaro, each considered for the CEO job.

Disney's announcement connected Tuesday said Bergman and Pitaro would proceed successful their existent roles.