The Walt Disney Company has named its next leader. Josh D’Amaro, head of the company’s parks and consumer products division, will be the new CEO, Disney announced Tuesday.
Disney’s board voted unanimously for D’Amaro to take the top job and succeed current CEO Bob Iger, who is stepping down this year.
D’Amaro will take over the role effective March 18, which is when Disney is scheduled to hold its annual shareholder meeting.
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Iger will then transition to a senior advisor role and serve as a member of the Disney board of directors until his retirement from the company on Dec. 31.
"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," Disney board of directors chairman James Gorman said in a statement. "Throughout this search process Josh has demonstrated a strong vision for the company’s future and a deep understanding of the creative spirit that makes Disney unique in an ever-changing marketplace."
D’Amaro will have an annual base salary of $2.5 million, according to a new SEC filing. He will also be eligible for annual, performance-based bonuses equal to 250% of his salary.
Also, for each fiscal year that D’Amaro is CEO, he will receive a long-term stock incentive valued at $26.2 million.
The filing said that D’Amaro will receive a one-time award tied to his promotion that’s worth $9.7 million.
"I am immensely grateful to the Board for entrusting me with leading a company that means so much to me and millions around the world," D'Amaro said in a statement Tuesday. "There's no limit to what Disney can achieve, and I am excited to work with our teams across the company and brilliant creative partners to honor Disney's remarkable legacy while continuing to innovate, grow, and deliver exceptional value for our consumers and shareholders."
Along with D’Amaro’s appointment, Disney announced another leadership change.
Disney Entertainment co-chair Dana Walden, who was also reportedly in the running for the CEO job, has been promoted to a new role: president and chief creative officer. Walden will take on that role effective March 18 and report directly to D’Amaro.
"Dana Walden is an excellent leader who commands tremendous respect from the creative community," Iger said in a statement. "Given that creativity is at the heart of everything Disney does, she is a wonderful choice to serve in this new leadership role."
As co-chair of Disney Entertainment, Walden oversees the company's media, news and content businesses alongside Alan Bergman.
In her new role of president and chief creative officer, Walden is expected to have an annual base salary of $3.75 million. She will be eligible for annual, performance-based bonuses equal to 200% of her salary, according to an SEC filing.
Walden will also receive a long-term stock award of $15.75 million for each year she's president and CCO. As part of her promotion, she will also receive a one-time award valued at $5.26 million.
Who is Josh D'Amaro?
D’Amaro currently leads the company’s Experiences division, which includes the theme parks, Walt Disney Imagineering, the cruise line and consumer products.
D’Amaro, who joined the company in 1998 with a role at Disneyland Resort in California, has held a variety of roles during his time with the company in areas such as finance, business strategy and marketing.
He previously was president of Disneyland Resort and president of Walt Disney World Resort before being promoted to the Disney Experiences role in 2020.
"Josh D’Amaro is an exceptional leader and the right person to become our next CEO," Iger said in a statement Tuesday. "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."
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The future of Disney
D’Amaro’s appointment and Walden’s new role mark an end to a years-long and closely watched succession process following Iger’s shocking return to the company in late 2022.
Iger first served as CEO from 2005 until 2020, when then-parks chairman Bob Chapek was named his successor. Chapek’s stint was short-lived after mounting criticisms and numerous challenges prompted the board to oust him.
Disney’s CEO news comes at a crucial time for the company as it prepares for a future that includes expansions at its theme parks, cruise line and a new strategy with its Disney+ streaming service.
On Monday, Disney released its quarterly earnings, which showed the company’s revenue was up 5% to $26 billion. The results were boosted by Disney’s parks division, which generated a record $10 billion in revenue.
The company is currently investing $60 billion in its theme parks over the next decade. That includes new experiences at Disneyland Resort and expansions at Disney World with projects such as the upcoming Tropical Americas land at Disney’s Animal Kingdom.
Disney is also planning to develop a new resort in Abu Dhabi.
The company will also be looking to continue momentum at its studios.
Walt Disney Studios, was the highest-grossing Hollywood studio at the box office in 2025, with a global haul of $6.5 billion. The results were driven by the success of movies such as the live-action "Lilo & Stitch," "Zootopia 2," and "Avatar: Fire and Ash."
The Source: This article was written with information from The Walt Disney Company and previous FOX 35 reporting.