He is also leading Disney’s expansion into the Middle East with plans for a new theme park in Abu Dhabi
FILE PHOTO: A sign is shown at one of the entrances to Disney Studios in Burbank, California, U.S., July 25, 2023. REUTERS
Walt Disney on Tuesday named theme parks chief Josh D’Amaro as its next chief executive, ending years of succession uncertainty and placing a longtime insider at the helm as artificial intelligence and consolidation reshape the media industry.
D’Amaro, 54, will succeed Bob Iger, 74, on March 18. Iger, who returned to Disney in 2022 after the pandemic disrupted its business, is credited with transforming the company through acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox.
Disney also named entertainment co-chair Dana Walden as chief content officer and president. Walden, a creative executive with strong talent relationships and a record of commercial and critical successes, is seen as being in the mold of Iger.
Succession has long been a weakness for the storied entertainment company. Disney delayed Iger’s retirement several times and reinstated him after his handpicked successor, Bob Chapek, struggled during the pandemic.
To avoid another misstep, Disney in 2024 appointed former Morgan Stanley CEO James Gorman as chairman to oversee the CEO search. Gorman joined after Disney extended Iger’s tenure for a fifth time through 2026.
Disney CEO Bob Iger arrives at The Sun Valley Resort for the Allen and Company Sun Valley Media and Technology Conference in Sun Valley, Idaho, US, July 8, 2025.PHOTO: REUTERS
With D’Amaro, Disney is turning to a nearly three-decade company veteran who leads its largest profit engine — the experiences unit, which includes theme parks and cruises. The division posted a record operating profit of nearly $10 billion last fiscal year, accounting for almost 60% of Disney’s total earnings.
D’Amaro is also spearheading Disney’s expansion into the Middle East, with plans for a new theme park in Abu Dhabi, its first major park opening in nearly a decade.
Challenges facing new CEO
A decline in international visitors to the United States has weighed on the parks business. Disney shares fell more than 7% on Monday after the company cited the trend as a headwind, despite beating overall sales and profit expectations.
While D’Amaro is well known to visitors at Walt Disney World in Florida, analysts say he lacks deep ties in Hollywood. That could prove challenging as generative AI threatens to automate parts of writing, editing and visual effects across the entertainment industry.
Read More: Disney profits in streaming but theme parks struggle
The timing is sensitive, with major guild contracts for writers and actors set to expire in May and June, raising the prospect of renewed labor talks. Disputes over AI helped trigger dual strikes in 2023 that halted production across Hollywood and cost an estimated $6b in lost output.
Disney is under scrutiny after agreeing late last year to allow OpenAI to use characters from its Star Wars, Pixar and Marvel franchises in the startup’s Sora video generator, alongside a planned $1b investment.
Competition is intensifying as Netflix and Paramount explore acquisitions of Warner Bros assets, moves that could create a formidable new streaming and studio rival.
D’Amaro will also face political pressure. The Trump administration has criticised Disney over its programming. In September, Disney briefly pulled ‘Jimmy Kimmel Live’ after remarks by the host about conservative activist Charlie Kirk drew a regulatory threat, before reinstating the show amid backlash.
President Donald Trump said in November that licences held by affiliates of Disney-owned ABC should be revoked after a network reporter questioned him about the Jeffrey Epstein political scandal.
