US media giant Disney has named Josh D’Amaro, the current chairman of Disney Experiences, as its new chief executive, ending a protracted search to find a successor to longtime head Bob Iger.
Disney announced D’Amaro will become the company’s ninth chief executive in its 102-year history when he assumes the role on March 18, having already spent 28 years at the company.
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As chief executive, D’Amaro will take control of Disney’s sprawling media empire that includes international sports service ESPN, the ABC Network, the Pixar and Marvel studios, and the Disney+ and Hulu streaming platforms.
Disney currently owns 80% of ESPN, with Hearst Communications owning the other 20%.
D’Amaro said: “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. Disney’s strength has always come from our people and the creative excellence that defines our stories and experiences.
“There is 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.”
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By GlobalDataD’Amaro has been chairman of Disney Experiences, the company’s unit that focuses on theme parks, cruise ships, resorts, and consumer technologies, since 2020, where he has overseen a $60 billion investment into Disney’s offering in the space, including a planned resort destination in Abu Dhabi.
Dana Walden, Disney’s co-chair of entertainment and rival for the top spot, meanwhile, has been named president and chief creative officer, tasked with ensuring “storytelling and creative expression across every audience touchpoint consistently reflect the brand, engage audiences at scale, and advance core business objectives, while driving enterprise-wide initiatives and translating vision into action.”
The appointment ends Iger’s second stint leading Disney, having been brought back in November 2022, less than a year after he retired, to take over from his handpicked successor Bob Chapek after his ill-fated stint at the helm.
Iger previously spent more than four decades with the company, including 15 years as chief executive the first time around.
Iger was brought back by Disney to steer it through a rocky period after its share price dropped significantly, and the Disney+ streaming service spent a significant amount of time operating at a loss.
Disney’s board said at the time that Iger had signed on for two years and would be asked to “work closely with the board in developing a successor to lead the company at the completion of his term.”
The board voted unanimously in 2023 to extend his tenure through Dec. 31, 2026, and he will stay on as a senior adviser and board member until that date.
Iger said: “Josh D’Amaro is an exceptional leader and the right person to become our next chief executive.
“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.
“His ability to combine creativity with operational excellence is exemplary, and I am thrilled for Josh and the company.”
