- Josh D'Amaro becomes Disney CEO, succeeding Bob Iger.
- Iger steps down after return tenure, remains adviser until 2026.
- D'Amaro outlines integrated "one Disney" strategy across businesses.
- Dana Walden appointed president and chief creative officer.
Bob Iger's nearly two-decade reign at the Walt Disney Company came to an end on Wednesday as Josh D'Amaro, the 55-year-old executive who transformed Disney's theme parks into the company's single most powerful earnings engine, assumed the role of chief executive at the company's annual shareholders meeting.
D'Amaro becomes Disney's ninth CEO and inherits one of the most storied brands in global entertainment at a moment of genuine uncertainty - with the stock down more than 10 percent year-to-date and the company facing intensifying competition from a combined Paramount-Warner Bros entity and the relentless dominance of Netflix.
Iger, 75, who first led Disney from 2005 to 2020 and was brought back in 2022 to clean up after the turbulent tenure of successor Bob Chapek, delivered a prerecorded farewell address to shareholders. He said that when he returned in 2022, people had lost confidence in the company, and expressed his belief that D'Amaro was the right person to carry it forward.
"I believe deeply in this company's future, because I believe in Josh D'Amaro," he said, before adding that he would be cheering on D'Amaro and newly appointed chief creative officer Dana Walden "as I sail off into the sunset."
D'Amaro's Vision: One Disney
In his shareholder address, D'Amaro outlined a strategy centred on what he called "one Disney" a more integrated, personalised consumer experience that brings together the company's streaming, parks, sports and film assets into a coherent whole.
He said Disney+ would evolve beyond a traditional streaming service to become the "digital centrepiece" of the company, and confirmed the platform would be unified with Hulu "later this year." On ESPN, he was unambiguous: the sports giant's first broadcast of the Super Bowl, scheduled for next year, would be brought "the full force of the Walt Disney Company."
From Sculptor to CEO
D'Amaro's path to the top job is unusual for a Fortune 500 chief executive. He studied art at Skidmore College and originally intended to be a sculptor before switching to a business degree at Georgetown. He joined Disney in 1998 and spent nearly three decades in a variety of roles before being appointed chairman of Disney Experiences in 2020, a division that now generates $36 billion in annual revenue and employs 185,000 people worldwide.
Under his leadership, parks and experiences came to account for more than 70 percent of Disney's operating income a remarkable concentration for a company historically defined by its film and television output.
D'Amaro told shareholders at a Disney town hall that he got "a little choked up" when Iger and board chairman James Gorman informed him on February 2 that he was their choice for CEO. "A lot goes through your head in that moment," he said. "I got a little embarrassed. I got a little choked up when they let me know, because it's a big responsibility."
Dana Walden's Historic Appointment
Dana Walden, Disney's head of television and streaming and the other leading internal candidate for the CEO role, was appointed president and chief creative officer a newly created position that Disney called a historic first.
Walden's base salary of $3.75 million is higher than D'Amaro's starting salary of $2.5 million, a deliberate incentive to retain an executive who could have left the company after losing the succession race. D'Amaro's total first-year compensation is targeted between $38.5 million and $44.7 million. Iger will remain as senior adviser and board member until his retirement on December 31, 2026.
