D’Amaro, 54, will take over from Bob Iger at Disney’s annual investor meeting on March 18. Iger, who transformed Disney through landmark acquisitions including Pixar, Marvel and 21st Century Fox, will remain as a senior adviser and board member until he retires at the end of the year.
The company also elevated entertainment co-chief Dana Walden, a top creative executive with a string of commercial and critical successes, to chief content officer and president. Walden had been among the finalists for the CEO role, along with co-chief Alan Bergman and ESPN head Jimmy Pitaro.
Succession Struggles End with Insider Choice
Disney’s succession planning has long been seen as a vulnerability. The company delayed Iger’s retirement multiple times and brought him back in 2022 to replace Bob Chapek, his handpicked successor, after the pandemic severely disrupted Disney’s business.
To avoid another misstep, Disney appointed Morgan Stanley veteran James Gorman as chairman in 2024 to oversee the CEO transition. Gorman, credited with managing a smooth leadership change at the bank, joined after Disney extended Iger’s tenure through 2026.
“Josh has demonstrated a strong vision for the company’s future and a deep understanding of the creative spirit that makes Disney unique,” Gorman said in a statement.
Disney shares slipped 0.8% in early trading following the announcement.
Parks Chief Takes Charge of Media Empire
D’Amaro is a near three-decade Disney veteran and currently leads the company’s most profitable division: the experiences unit, which includes theme parks and cruises. The segment generated a record operating profit of nearly $10 billion last fiscal year, accounting for nearly 60% of Disney’s earnings.
Under D’Amaro, Disney has pursued international expansion, including a planned theme park in Abu Dhabi that would mark its first major new park in nearly a decade.
New CEO Faces Immediate Challenges
Despite the parks division’s strength, Disney is confronting fresh headwinds. A decline in international visitors to U.S. parks has weighed on performance, and the company’s stock fell more than 7% on Monday after it highlighted this pressure.
Analysts note that while D’Amaro is a familiar figure to Disney World guests, he is less known in Hollywood. That could complicate his leadership as the entertainment sector grapples with generative AI, which is reshaping writing, editing and visual effects workflows.
The timing is also high stakes: major industry guild contracts for writers and actors expire in May and June, raising the prospect of new labor negotiations. The 2023 dual strikes—partly driven by AI concerns—cost Hollywood roughly $6 billion in lost output.
Disney is already under scrutiny for its AI strategy. The company agreed last year to allow OpenAI to use characters from Star Wars, Pixar and Marvel in its Sora AI video generator and committed to a $1 billion investment in the startup.
A Cautionary Reminder of Past CEO Missteps
Disney’s previous CEO, Bob Chapek—also a parks veteran—faced criticism over talent relations and mishandled disputes, notably a lawsuit with Scarlett Johansson over the hybrid release of “Black Widow.” The episode is often cited as a cautionary example of what Disney hopes to avoid with D’Amaro’s appointment.
“These are big boots to fill. Disney can ill afford another messy handover,” said Paolo Pescatore, analyst at PP Foresight. “Ultimately, the key to Disney’s success and future growth lies in content creation, which drives the flywheel across theatrical releases, experiences, licensing and streaming.”
Competition, Consolidation and Political Pressure
Disney also faces intensifying competition as Netflix and Paramount pursue deals to acquire Warner Bros assets, potentially creating a formidable new streaming and studio rival.
Political pressures add another layer of complexity. Disney drew criticism last year after briefly pulling “Jimmy Kimmel Live” following remarks about the assassination of conservative activist Charlie Kirk. President Donald Trump later called for the revocation of ABC affiliate licenses after a reporter questioned him about the Jeffrey Epstein scandal.
Compensation and Outlook
D’Amaro’s annual base salary is set at $2.5 million, with a long-term incentive award valued at $26.3 million each fiscal year.
By choosing D’Amaro, Disney has signaled it is prioritizing operational stability and proven leadership at a time when the company’s future hinges on its ability to compete in streaming, content creation, and emerging AI-driven media.