Disney taps parks chief D'Amaro to succeed Iger as CEO in 2026
The appointment ends years of leadership uncertainty at the $201bn entertainment conglomerate
The Walt Disney Company has named Josh D'Amaro, the architect of its booming theme parks business, as its next chief executive, ending years of uncertainty over who would succeed Bob Iger atop one of the world's largest entertainment conglomerates.
D'Amaro, currently chairman of Disney Experiences, will assume the role of CEO on March 18, 2026, according to a company announcement. The 30-year Disney veteran, who joined the company in 1998 as a finance professional at Disneyland Resort, will take the helm of a company with a $201bn market capitalization that spans theme parks, streaming services, film and television production.
The appointment comes alongside the creation of a new President and Chief Creative Officer role for Dana Walden, who currently serves as co-chairman of Disney Entertainment. Walden will oversee storytelling and creative expression across all of Disney's businesses, reporting directly to D'Amaro. The leadership restructuring represents Iger's most significant executive moves since returning to the company in November 2022 to replace Bob Chapek.
D'Amaro's selection underscores the critical importance of Disney's Experiences division, which has emerged as the company's profit engine during a period of upheaval in traditional media. The segment, which encompasses 12 theme parks, 57 resort hotels across six global destinations, Disney Cruise Line, and consumer products, generated record operating income of $10 billion in fiscal year 2025. In the first quarter of fiscal 2026 alone, the Experiences unit contributed 72% of Disney's nearly $5 billion quarterly operating profit.
Analysts greeted the appointment as a resolution to what had become a persistent question mark for investors. "The naming of Josh D'Amaro as CEO would be well-received by the investment community due to his division's strong performance," Bank of America analyst Jessica Reif Ehrlich noted. The succession question had been an "overhang" on Disney's shares, according to market commentary.
However, the announcement was overshadowed by broader concerns about Disney's streaming losses and performance in its entertainment division. Disney shares fell 7.4% on the day of the announcement, adding to a 4.9% decline the previous day amid reports of declining international visitors to US theme parks and a 35% drop in operating income in the entertainment division due to higher marketing costs for theatrical releases.
D'Amaro's career has been deeply rooted in the company's parks business, providing him with extensive operational experience across finance, marketing, and creative development. He previously served as president of Disneyland Resort, where he oversaw the opening of Star Wars: Galaxy's Edge, and later as president of Walt Disney World Resort, leading its four theme parks, two water parks, and more than two dozen resort hotels. Under his leadership as chairman of Disney Experiences, the division has expanded with major additions including Avengers Campus, Mickey and Minnie's Runaway Railway, and World of Frozen, while planning significant future investments in Monsters, Inc.-themed lands and new Avatar destinations.
The parks chief's elevation to CEO follows a cautionary precedent at Disney. Iger's previous successor, Bob Chapek, also rose from the parks division before being ousted after less than three years amid criticism of his handling of the pandemic response and strategic missteps. Yet analysts and industry observers have distinguished D'Amaro's tenure, noting his broader strategic vision that encompasses video games and technology initiatives beyond the traditional parks business.
Iger, who has led Disney through two separate tenures spanning more than 15 years, is expected to remain with the company in a consulting capacity after the transition. The announcement brings clarity to Disney's leadership at a critical juncture, as the company continues to navigate the shift from traditional linear television to streaming while managing the capital-intensive expansion of its global parks and cruise operations.
Disney stock, which has gained only 2.2% over the past year, faces renewed pressure to demonstrate sustained profitability in its streaming business, which includes Disney+ and ESPN+. The company's Experiences division, with its $10 billion operating profit, provides a stable foundation but cannot single-handedly offset challenges in the media business that accounts for the majority of Disney's revenue.
With 30 Wall Street analysts rating Disney a buy versus just one sell, and an average price target of $132.23, investors appear to be looking past the current volatility to D'Amaro's proven track record. His tenure as CEO will be measured by whether he can replicate the success of the theme parks business across Disney's broader portfolio, which continues to face intense competition in streaming and headwinds in traditional advertising.