The BareStory
The Walt Disney Company has appointed Josh D’Amaro as its next chief executive officer, effective March 18. D’Amaro, currently the chairman of Disney Experiences, will succeed Bob Iger, who plans to remain with the company as a senior advisor and board member until his retirement on December 31. Additionally, Dana Walden will assume the newly created role of president and chief creative officer, reporting directly to D’Amaro.
The selection process was overseen by a board committee led by Chairman James Gorman, who stated that the search considered over 100 candidates. Gorman noted that the committee interviewed Iger’s direct reports, including D’Amaro and Walden, beginning in early 2024. D’Amaro, 54, has been a Disney employee since 1998 and currently oversees the division responsible for theme parks, resorts, and consumer products.
This leadership transition follows the company’s quarterly earnings report released Monday, in which total revenue reached approximately $26 billion, a 5% increase year-over-year. The experiences division under D'Amaro reported its first-ever quarter with over $10 billion in revenue. Despite beating revenue expectations, Disney shares fell 7% on Monday. Analysts had previously indicated that uncertainty surrounding the succession plan was acting as an overhang on the stock.
Incoming leadership faces the task of executing a planned $60 billion investment in parks over the next decade while managing the decline of traditional linear television. The company is also focused on maintaining profitability in its streaming business through bundling strategies and efforts to curb password sharing. This marks the second time in six years that Disney has named a successor to Iger, who returned to the CEO role in late 2022.
How it may affect me
As a U.S. reader:
• Subscribers to Disney streaming services may encounter new bundling strategies and stricter enforcement against password sharing as the company focuses on maintaining profitability.
• Travelers planning visits to Disney parks and resorts may see long-term expansions and updates resulting from a committed $60 billion investment in the experiences division over the next decade.
• Investors holding Disney stock face potential volatility, evidenced by a 7% drop in share price, as the market reacts to the succession plan and broader industry challenges.
• Viewers of traditional television may see the company continue to pivot away from linear TV networks as incoming leadership manages the structural decline of that medium.
