Disney names D'Amaro CEO in historic succession from Iger
Parks chief to take helm March 2026, ending legendary leader's second stint at entertainment giant
The Walt Disney Company has named Josh D'Amaro as its next chief executive, succeeding Bob Iger in a leadership transition that will reshape the $201 billion entertainment conglomerate beginning March 18, 2026.
D'Amaro, currently chairman of Disney Experiences, will take over from Iger, who has led the company through two separate tenures spanning more than two decades. The announcement marks the end of Iger's legendary run at the helm of one of the world's most influential media companies.
Dana Walden has been appointed to the newly created role of president and chief creative officer, adding oversight of storytelling across all Disney businesses. Walden, who co-chairs Disney's general entertainment content, will maintain her existing responsibilities while taking on this expanded creative mandate.
Disney shares slipped 0.2% to $104.22 in Tuesday afternoon trading, giving the company a market capitalization of $201.4 billion. The stock has climbed 32% from its 52-week low of $79.22 but remains below its October peak of $123.85. Analysts remain broadly positive on the shares, with 25 buy ratings versus just one sell, and an average target price of $132.23 representing roughly 27% upside from current levels.
The leadership change comes at a critical juncture for Disney, which has navigated a complex transformation under Iger's second tenure. The company has invested heavily in its direct-to-consumer streaming strategy, with Disney+ now boasting more than 150 million subscribers, while simultaneously managing the integration of its vast content portfolio across film, television, and theme parks.
D'Amaro, 54, brings deep operational experience to the role. During his tenure leading Disney Experiences, which encompasses theme parks, cruise lines, and consumer products, the division has delivered robust performance despite broader economic headwinds. The parks segment generated $32.5 billion in revenue in fiscal 2025, representing nearly 35% of the company's total revenue of $94.4 billion over the trailing twelve months.
The transition has not been without controversy. Nelson Peltz, the activist investor who waged a high-profile board battle with Disney last year, took a critical shot at Iger over the succession process, questioning whether the company had conducted a sufficiently thorough search for external candidates.
The leadership shakeup also raises questions about the future direction of Disney's creative strategy. Walden's expanded role suggests the company will continue to emphasize storytelling excellence across its diverse franchises, including Marvel, Star Wars, Pixar, and the Disney Animation Studios. However, analysts note that balancing creative ambitions with financial discipline will be a key challenge for the new leadership team.
"Disney's next C-suite task is keeping Dana Walden in the empire," Bloomberg reported, highlighting the importance of retaining top creative talent as the company navigates its next chapter.
From a financial perspective, Disney faces several pressing challenges. The company's streaming division, while growing rapidly, continues to post losses, with investors increasingly focused on the path to profitability. Meanwhile, the traditional linear television business faces structural decline as audiences shift to digital platforms.
Disney's balance sheet remains solid, with $19.4 billion in trailing twelve-month EBITDA and a debt-to-EBITDA ratio of approximately 2.8 times. The company reinstated its dividend in 2023, currently yielding 1.3% on an annual basis, with the next payout scheduled for July 2026.
The March 2026 transition gives D'Amaro more than a year to work alongside Iger, ensuring continuity and providing time for the incoming CEO to establish his strategic vision. Analysts expect D'Amaro to maintain Disney's focus on streaming profitability while leveraging the company's intellectual property across its diverse business lines.
For Iger, who first led Disney from 2005 to 2020 before returning in 2022 amid crisis, the succession represents the final chapter of a transformative tenure that reshaped the entertainment landscape through landmark acquisitions including Pixar, Marvel, Lucasfilm, and 21st Century Fox.
Investors will be watching closely for D'Amaro's early strategic moves, particularly any shifts in streaming strategy, potential further cost-cutting measures, and how he navigates the increasingly competitive global entertainment market. With Disney trading at 16.3 times trailing earnings—a discount to its five-year average—the market appears to be adopting a wait-and-see approach to the leadership transition.