BURBANK, Calif., Feb. 3 (GeokHub) — Walt Disney Co. on Tuesday appointed longtime executive and theme parks chief Josh D’Amaro as its next chief executive officer, ending years of succession uncertainty and ushering in a new leadership era as artificial intelligence and industry consolidation reshape global media.
D’Amaro, 54, will formally take over from Bob Iger at Disney’s annual investor meeting on March 18. Iger, 74, who has defined Disney’s modern era through blockbuster acquisitions including Pixar, Marvel and 21st Century Fox, will remain a senior adviser and board member until his retirement on December 31.
The leadership change comes at a pivotal moment for Disney as it balances creative disruption from generative AI, intensifying streaming competition, and rising political and labor pressures.
A Parks Veteran Takes the Helm
D’Amaro is a nearly three-decade Disney veteran and currently oversees the company’s experiences division — its largest profit engine, encompassing theme parks, cruises and consumer experiences.
That unit generated nearly $10 billion in operating profit last fiscal year, accounting for roughly 60% of Disney’s total earnings, with revenue rising consistently since the pandemic downturn eased in 2021.
Disney is also pressing ahead with global expansion under D’Amaro’s leadership, including plans for a new theme park in Abu Dhabi, its first major new park development in nearly a decade.
Leadership Reshuffle
Alongside D’Amaro’s appointment, Disney elevated entertainment co-chair Dana Walden to chief content officer and president, consolidating creative oversight across film, television and streaming. Walden had been widely viewed as a potential CEO candidate, alongside Alan Bergman and ESPN chief Jimmy Pitaro.
The board’s search process, overseen by chairman James Gorman, evaluated internal and external candidates with an emphasis on creative leadership, brand stewardship and technological fluency — particularly in artificial intelligence.
High-Stakes Challenges Ahead
Despite the parks division’s strength, Disney faces headwinds. A decline in international travel to the U.S. has begun to weigh on park attendance, a concern flagged by the company just days before the CEO announcement.
D’Amaro also inherits mounting pressure in Hollywood, where generative AI threatens to automate writing, editing and visual effects. Industry labor contracts for writers and actors expire later this year, raising the risk of renewed disputes after strikes in 2023 cost the sector billions.
Disney’s AI strategy has drawn particular scrutiny after the company agreed to allow OpenAI to use characters from its Star Wars, Marvel and Pixar franchises in AI video tools, alongside a $1 billion investment in the startup.
Competition is also intensifying as rivals pursue consolidation, with potential mergers among major studios and streaming platforms poised to reshape the entertainment landscape.
Market Reaction and Compensation
Disney shares dipped slightly following the announcement. D’Amaro’s compensation includes a $2.5 million annual base salary and a long-term incentive package with a target value of $26.3 million per year.
Former Disney CEO Michael Eisner praised the leadership transition, urging D’Amaro to protect the brand and keep creativity at the center of Disney’s strategy.
