What's Happening?
The Walt Disney Company has announced that Josh D'Amaro, currently the chairman of Disney Experiences, will succeed Bob Iger as CEO. D'Amaro, who has been with Disney for nearly 30 years, will officially
take over on March 18. Bob Iger, who has led Disney for most of the past two decades, will remain as a board member and senior advisor until the end of the year. D'Amaro's appointment comes after a closely watched succession process, marking the second time Disney has selected a successor for Iger in six years. The decision was made by Disney's board of directors, who unanimously voted for D'Amaro. Dana Walden will also be elevated to president and chief creative officer, reporting directly to D'Amaro.
Why It's Important?
The appointment of Josh D'Amaro as CEO is significant for Disney as it navigates a rapidly changing entertainment landscape. D'Amaro's experience in managing Disney's theme parks and resorts positions him well to lead the company through its next phase, especially as it continues to expand its global presence and adapt to shifts in the entertainment industry. His leadership will be crucial in steering Disney's efforts to capitalize on its box office dominance and enhance profitability in its streaming business. The transition also highlights Disney's commitment to internal leadership development, as D'Amaro has been with the company for nearly three decades.
What's Next?
As D'Amaro steps into his new role, he will face the challenge of maintaining Disney's growth trajectory while addressing the erosion of traditional TV and focusing on marquee content. The company plans to invest $60 billion in its theme parks over the next decade and is developing a new theme park and resort in Abu Dhabi. D'Amaro will also need to navigate the complexities of the entertainment business, balancing legacy and innovation while embracing new technologies like artificial intelligence. His leadership will be pivotal in ensuring Disney's continued success and relevance in the global entertainment market.
