Disney Unveils New CEO Amid Power Shift After Bob Iger's Abrupt Return as Chairman
In a move that signals a fresh start for one of the world's largest entertainment conglomerates, Disney has named Josh D'Amaro, current head of Disney Parks and Resorts, as its new Chief Executive Officer (CEO). The decision comes after a tumultuous succession period, marked by Bob Iger's 15-year tenure followed by an abrupt return in 2022.
Iger hailed D'Amaro as "an exceptional leader" and the right person to take the reins of the company, which boasts a vast portfolio including Pixar, Marvel, Lucasfilm, and Disney's resorts and cruise ships. The new CEO will assume the role in March, with Iger remaining on the board until December.
The news comes after Bob Chapek was fired as CEO last year amidst pressure from investors and analysts. D'Amaro, who has been chair of Disney Parks and Resorts since 2020, will be tasked with navigating the company's challenges, including declining profits from its wider entertainment division and the impact of international travel restrictions on its theme parks.
D'Amaro said he is "immensely grateful" for the board's trust and is committed to leading a company that has created millions of fans worldwide. He emphasized the importance of creative excellence, people power, and innovation in driving Disney's future success.
The promotion of Dana Walden as president and chief creative officer may also be seen as an attempt to mitigate concerns about D'Amaro's relatively unknown status in Hollywood circles. Iger praised Walden's "instinctive appreciation" for the Disney brand, highlighting her deep understanding of what resonates with audiences and her ability to deliver ambitious projects.
Shares in Disney dropped 1% on Tuesday following the announcement, as investors react to the new leadership team. D'Amaro's compensation package includes a base salary of $2.5m, with potential bonuses up to 250% of his basic pay, as well as long-term incentive stock awards and performance-based bonuses.
Under D'Amaro's leadership, Disney will face significant challenges, including the ongoing impact of the COVID-19 pandemic on its theme parks and cruise ships, as well as increasing competition in the entertainment industry. However, with a deep understanding of the company's DNA and a commitment to innovation, D'Amaro is poised to lead Disney into a new era of growth and success.
In a move that signals a fresh start for one of the world's largest entertainment conglomerates, Disney has named Josh D'Amaro, current head of Disney Parks and Resorts, as its new Chief Executive Officer (CEO). The decision comes after a tumultuous succession period, marked by Bob Iger's 15-year tenure followed by an abrupt return in 2022.
Iger hailed D'Amaro as "an exceptional leader" and the right person to take the reins of the company, which boasts a vast portfolio including Pixar, Marvel, Lucasfilm, and Disney's resorts and cruise ships. The new CEO will assume the role in March, with Iger remaining on the board until December.
The news comes after Bob Chapek was fired as CEO last year amidst pressure from investors and analysts. D'Amaro, who has been chair of Disney Parks and Resorts since 2020, will be tasked with navigating the company's challenges, including declining profits from its wider entertainment division and the impact of international travel restrictions on its theme parks.
D'Amaro said he is "immensely grateful" for the board's trust and is committed to leading a company that has created millions of fans worldwide. He emphasized the importance of creative excellence, people power, and innovation in driving Disney's future success.
The promotion of Dana Walden as president and chief creative officer may also be seen as an attempt to mitigate concerns about D'Amaro's relatively unknown status in Hollywood circles. Iger praised Walden's "instinctive appreciation" for the Disney brand, highlighting her deep understanding of what resonates with audiences and her ability to deliver ambitious projects.
Shares in Disney dropped 1% on Tuesday following the announcement, as investors react to the new leadership team. D'Amaro's compensation package includes a base salary of $2.5m, with potential bonuses up to 250% of his basic pay, as well as long-term incentive stock awards and performance-based bonuses.
Under D'Amaro's leadership, Disney will face significant challenges, including the ongoing impact of the COVID-19 pandemic on its theme parks and cruise ships, as well as increasing competition in the entertainment industry. However, with a deep understanding of the company's DNA and a commitment to innovation, D'Amaro is poised to lead Disney into a new era of growth and success.
OMG you guys I'm so stoked for Josh D'Amaro 
he sounds like an amazing leader and I love that he's all about creative excellence & people power 
it's like, we need more leaders who care about making magic happen for their fans not just about the benjamins 
of course Disney's got some tough times ahead but with D'Amaro at the helm I'm so here for it 
let's see what kinda magic he conjures up next 
. so Josh D'Amaro is like the new guy in charge now, he's been working on the parks and resorts for a while, seems okay. but bob iger coming back as chairman is weird, kinda like a power play 
. and disney's got some big problems to fix, like them theme parks being empty due to covid and other movies and shows not doing well financially 
. still, he sounds like a cool dude who cares about the fans, so fingers crossed for him 
seems like they're trying to mitigate concerns about his lack of experience in hollywood circles by making him president and chief creative officer too? does this new team have any plans to revamp disney's theme parks and make them more exciting again? 
and what about bob chapek who got fired as ceo last year? was it because of his management style or something else entirely? 
but seriously, d'amaro seems like the right guy for the job, been working under iger for years so he knows the Disney DNA 
also gotta say, promotion of walden as president and cco is a nice move to appease hollywood fans 
and now we gotta wait and see how he handles the challenges with profits declining and theme parks affected by travel restrictions... 
maybe having dana walden as president & cco will help bring some creative freshness to the table? 
He seems like he knows his stuff, especially when it comes to Parks and Resorts - they're always my fave part of Disney too! 
What do you guys think? Are you stoked about this new leadership team? 
#Disney #NewCEO #JoshDAmaro #ParksAndResorts #ThemeParkExpansion #InnovationMatters
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. She's got some serious cred under her belt, and if she can bring some magic to the table, we might just see a whole new level of Disney greatness 
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. Fingers crossed, dude! 
d'amaro's got a lot of experience with parks and resorts, which is like, half the company, right? and they're tryin to make some changes, like makin' creative people more important and all that jazz 
... anyway, back to Disney... I mean, who doesn't love a good ol' fashioned theme park day? But seriously, have you seen those new Star Wars rides? Mind. Blown.
, seems like he's got the right vibe for creative excellence & innovation 
and now damaro takes over as ceo?? he's from parks and resorts fam! i guess its a fresh start for them but idk if itll make a diff in the long run 
. share prices dropped tho lol what did they expect 
hope he can turn things around for the company 
its like bob iger just up and left again after bein the ceo for so long, leaves josh d amaro to deal w/ all the drama 
. but hey atleast dis is a fresh start w/ a new leader who seems all about creative excellence & innovation 
. also, what makes disney think they can bounce back from all the challenges they've been facing? it sounds like they're just kicking the can down the road 
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. It sounds like he's got some big shoes to fill, but he seems like a pretty decent guy who knows his stuff 
after being ousted as CEO. And now he's promoting Dana Walden to president and CCO? like she's some kinda Disney royalty 
... anyway, can't wait to see how D'Amaro handles the whole "making magic happen" thing 
. And btw, $2.5m base salary? that's cute