ORLANDO, Fla. — The Walt Disney Company announced Tuesday that Josh D’Amaro, the longtime head of its theme parks division, will succeed Bob Iger as chief executive officer, marking the end of Iger’s second stint at the helm of the entertainment powerhouse. D’Amaro, who has overseen Disney’s global parks and experiences for the past four years, is set to take the reins on March 18, 2026, according to a company press release. The move comes after more than a year of speculation about Iger’s replacement, as the veteran executive prepares to step down following his return to lead Disney through a period of transition.
Iger, who first became CEO in 2005 and guided Disney through an era of blockbuster acquisitions including Pixar, Marvel, Lucasfilm, and 21st Century Fox, retired in 2020 only to return in late 2022 amid challenges facing his successor, Bob Chapek. During his initial 15-year tenure, Iger transformed Disney into a global media giant, expanding its portfolio to include streaming services like Disney+ and navigating the shift from traditional cable to digital entertainment. His return was intended as a short-term measure to stabilize the company, with Iger committing to lead until 2026 to ensure a smooth handover.
Rumors about potential successors have circulated in industry circles for over a year, with insiders pointing to a shortlist that included D’Amaro, ESPN chairman Jimmy Pitaro, and Disney Entertainment co-chair Dana Walden. According to reports from entertainment outlets, these executives were among the top contenders vying for the role, each bringing distinct strengths to the table. Pitaro has been instrumental in ESPN’s pivot to direct-to-consumer streaming, while Walden has shaped Disney’s content strategy across film and television. However, Disney’s board ultimately settled on D’Amaro, citing his deep operational experience and brand stewardship.
D’Amaro joined Disney in 1996 and has climbed the ranks over his 28-year career, most recently serving as chairman of the Disney Experiences segment since 2020. In this role, he manages a vast empire that includes more than 12 theme parks and 57 resorts worldwide, stretching from the Magic Kingdoms in Florida and California to international outposts in Paris, Tokyo, Hong Kong, and Shanghai. His responsibilities also extend to Disney’s cruise line, which operates a fleet of 11 ships offering family-oriented voyages; the legendary Imagineering unit, responsible for park design and innovation; consumer products generating billions in merchandise sales; and digital ventures such as the company’s collaboration with Epic Games to build immersive experiences within Fortnite.
Under D’Amaro’s leadership, Disney’s parks have rebounded strongly from the pandemic-era shutdowns, with attendance surpassing pre-COVID levels and new attractions drawing record crowds. Projects like the recent opening of Tiana’s Bayou Adventure at Disneyland and the upcoming Villains Land at Magic Kingdom highlight his focus on storytelling and guest experience. “The theme parks are the heart of Disney,” an industry analyst noted in recent coverage, emphasizing how D’Amaro’s expertise in experiential entertainment positions him well for broader leadership.
The announcement arrives at a pivotal moment for Disney, as the company grapples with evolving consumer habits and competitive pressures in media and entertainment. Iger’s tenure has seen the launch of a standalone ESPN streaming service, aimed at capturing sports fans in a cord-cutting world, and a landmark billion-dollar partnership with OpenAI. This deal enables users to generate videos featuring over 250 Disney characters, with select content integrated into the Disney+ app, blending artificial intelligence with classic IP to create fresh engagement opportunities.
In the official press release, Iger praised D’Amaro’s qualifications, stating,
“Josh D’Amaro is an exceptional leader and the right person to become our next CEO. 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.”This endorsement underscores the board’s confidence in D’Amaro’s ability to build on Iger’s legacy while steering Disney into an AI-driven future.
Disney’s theme parks division, rebranded as Disney Experiences under D’Amaro, has long been a profit engine for the company, often accounting for a significant portion of its operating income. In fiscal 2023, the segment reported revenues exceeding $32 billion, driven by higher ticket prices, premium experiences, and international expansion. D’Amaro’s initiatives, such as the integration of Marvel and Star Wars-themed lands, have not only boosted visitor numbers but also reinforced Disney’s cultural dominance through immersive worlds that extend beyond screens.
Looking back, Iger’s return in November 2022 followed a turbulent period under Chapek, who faced criticism for his handling of the pandemic, labor disputes, and the company’s political entanglements in Florida. Iger’s steady hand helped restore investor confidence, with Disney’s stock rising more than 20% during his second term. Yet, challenges persist, including ongoing negotiations with streaming rivals like Netflix and Amazon, and the need to balance creative output with profitability in a post-strike Hollywood.
Industry observers have mixed views on the succession choice. Some praise D’Amaro’s operational prowess, noting his success in navigating supply chain issues and labor shortages in the parks business. “Josh understands the magic that makes Disney special,” said a former Disney executive in an interview with trade publication Variety. Others question whether his parks background fully equips him for the media conglomerate’s complexities, pointing to Walden’s content expertise or Pitaro’s sports media savvy as potentially stronger fits. According to reports, the board weighed these perspectives carefully before announcing D’Amaro as the unanimous pick.
The transition timeline gives D’Amaro ample time to shadow Iger, who will remain involved in an advisory capacity post-2026. This period could involve key decisions on upcoming projects, such as the next phase of Disney+ content slates and further AI integrations. Disney’s recent earnings calls have highlighted the OpenAI partnership as a game-changer, with executives describing it as a way to “unlock new storytelling possibilities” for generations of fans.
Beyond the C-suite shuffle, the announcement ripples through Disney’s global workforce of over 220,000 employees. Theme park unions in California and Florida have watched closely, given D’Amaro’s direct oversight of labor relations in those sectors. Recent contracts have stabilized operations, but future negotiations under new leadership will be crucial as Disney invests in sustainability and technology upgrades across its resorts.
As Disney looks ahead, D’Amaro inherits a company at the forefront of entertainment innovation. The Fortnite universe partnership, for instance, allows Disney characters to interact in virtual realms, attracting younger demographics and opening revenue streams in gaming and metaverse spaces. Coupled with the ESPN bet-the-company streaming launch, these ventures signal a diversification strategy that D’Amaro will need to champion amid economic uncertainties.
In broader context, Disney’s leadership changes reflect the industry’s ongoing transformation. Traditional studios are increasingly hybrid entities, blending physical experiences with digital ones, and D’Amaro’s parks pedigree could bridge that gap effectively. Analysts project that under his guidance, Disney could see continued growth in experiential revenue, potentially offsetting any streaming losses.
The succession caps a remarkable chapter for Iger, whose vision reshaped Hollywood. As D’Amaro prepares to step into the spotlight, all eyes will be on how he channels Disney’s storied legacy into the next era of magic and media. For now, the company remains optimistic, with shares ticking up slightly on the news of a steady hand at the wheel.