Disney has tapped Josh D'Amaro, current head of Disney Parks and Resorts, to succeed Bob Iger as CEO, bringing an end to a tumultuous succession process that saw his handpicked successor Bob Chapek ousted just two years into the job.
D'Amaro, who has been chair of Disney's experiences since 2020, will take over the top spot in March, marking a return to form for a company that had struggled to find its footing under Iger's guidance. The announcement comes as Disney reports a surge in profits from its streaming services, but warns of "headwinds" in the US theme park business.
Under D'Amaro's leadership, Disney has seen a renewed focus on creative excellence and innovation, with a emphasis on delivering exceptional value to consumers and shareholders. However, some analysts have noted that D'Amaro is relatively unknown in Hollywood, and his appointment may be seen as a calculated move to address concerns about the company's brand image.
In an effort to mitigate these concerns, Disney has also announced the promotion of Dana Walden, co-chair of its entertainment division, to president and chief creative officer. Walden will oversee the company's creative efforts, including film and television production, music publishing, and live events.
The move marks a significant shift in Disney's leadership structure, with Iger remaining on the board until December. The new CEO, D'Amaro, will receive a base salary of $2.5m, with the potential for a performance-based bonus of up to 250% of his base salary.
As D'Amaro prepares to take the reins, he has expressed his gratitude to the board for entrusting him with leading the company and has outlined his vision for Disney's future growth and innovation. With the appointment of Walden as president and chief creative officer, Disney appears to be taking steps to strengthen its creative leadership and address concerns about its brand image.
The move is also seen as a significant coup for Iger, who had declared Chapek his successor just six years ago, only to have him ousted after just two years. The appointment of D'Amaro marks a return to form for the company, which had struggled to find its footing under Iger's guidance.
Shares in Disney fell 1% during early trading on Tuesday, but the announcement is likely to be seen as a positive move for the company, with many analysts welcoming the return of Iger and the appointment of D'Amaro as CEO.
D'Amaro, who has been chair of Disney's experiences since 2020, will take over the top spot in March, marking a return to form for a company that had struggled to find its footing under Iger's guidance. The announcement comes as Disney reports a surge in profits from its streaming services, but warns of "headwinds" in the US theme park business.
Under D'Amaro's leadership, Disney has seen a renewed focus on creative excellence and innovation, with a emphasis on delivering exceptional value to consumers and shareholders. However, some analysts have noted that D'Amaro is relatively unknown in Hollywood, and his appointment may be seen as a calculated move to address concerns about the company's brand image.
In an effort to mitigate these concerns, Disney has also announced the promotion of Dana Walden, co-chair of its entertainment division, to president and chief creative officer. Walden will oversee the company's creative efforts, including film and television production, music publishing, and live events.
The move marks a significant shift in Disney's leadership structure, with Iger remaining on the board until December. The new CEO, D'Amaro, will receive a base salary of $2.5m, with the potential for a performance-based bonus of up to 250% of his base salary.
As D'Amaro prepares to take the reins, he has expressed his gratitude to the board for entrusting him with leading the company and has outlined his vision for Disney's future growth and innovation. With the appointment of Walden as president and chief creative officer, Disney appears to be taking steps to strengthen its creative leadership and address concerns about its brand image.
The move is also seen as a significant coup for Iger, who had declared Chapek his successor just six years ago, only to have him ousted after just two years. The appointment of D'Amaro marks a return to form for the company, which had struggled to find its footing under Iger's guidance.
Shares in Disney fell 1% during early trading on Tuesday, but the announcement is likely to be seen as a positive move for the company, with many analysts welcoming the return of Iger and the appointment of D'Amaro as CEO.
Finally, some stability after that crazy succession drama! 
I'm so hyped for Josh D'Amaro to take over as CEO - his focus on creative excellence and innovation is just what Disney needed 
. And promoting Dana Walden to president and chief creative officer? Genius move! 
She's gonna bring the magic back to Disney's entertainment division 
. I'm sure it's a bit of a risk putting someone new at the helm, but I think D'Amaro is perfect for the job 
. And let's be real, Bob Chapek's departure was long overdue 
. Fingers crossed this is the start of a brighter future for Disney! 
! He's been doing an amazing job leading Disney Parks and Resorts, and it's clear he's got a deep understanding of what makes Disney tick. The fact that they're promoting Dana Walden to president and chief creative officer is also a huge plus - she's been a driving force behind some of Disney's most innovative projects in the past.
. I mean, let's face it, Bob Chapek didn't exactly have the best run as CEO, and it's clear that Iger's guidance wasn't working out as planned. But D'Amaro has a proven track record of delivering results, and he's got a passion for creative excellence that's gonna serve Disney well.
They're promoting people who are passionate about storytelling and innovation, and I think that's gonna pay off big time. So, bring on the new era of Disney greatness! 
. First Chapek gets tossed out after 2 years, now it's some guy nobody knows from Hollywood taking over? Give me a break. And let's be real, $2.5m base salary for the new CEO is way too low considering what these people are bringing in through streaming profits 
. Iger might have been struggling to find his footing, but at least he had some track record of success before getting ousted 
. This whole thing just feels like a calculated move by Disney's board to shore up their brand image and placate shareholders... meanwhile, what about all the employees who are left wondering what's next for the company? 
at least damaro has a solid track record in parks and resorts but let's not forget he's also relatively unknown in hollywood this whole thing just feels like a calculated move to address concerns about disney's brand image and i'm not sure how that's gonna sit well with fans... 
! Finally, Disney got someone who's gonna bring some stability & creativity back to the table 
Josh D'Amaro seems like a great choice, especially with his experience in parks and resorts 
It's gonna be interesting to see how he'll mix things up while still honoring the magic of Disney 
I'm glad they're makin' some changes & investin' in creative leadership 
Dana Walden's promotion is also super exciting, can't wait to see what she'll bring to the table 
. I'm curious to see how Walden will handle creative decisions 
bob iger's leadership was starting to feel stale for some people. josh d'amaro seems like a breath of fresh air, all about creative excellence and innovation 
this is exactly why im starting to lose faith in the news outlets here - all this hype around damaro and walden without giving us any real info on how they plan to tackle the actual issues... 
d'a maro's got some big shoes to fill but i think he's got a solid track record with parks and resorts, so fingers crossed for him! also glad they're promoting walden to president and cco, she's definitely someone who knows her stuff. the thing that gets me is how much drama there was over bob chapek getting ousted tho