Off the back of media speculation, Bob Iger has resigned as Disney chief executive officer and will be succeeded by Josh D’Amaro, formerly Disney’s chairman of experiences.
D’Amaro will assume leadership as of 18 March, immediately following the company’s annual meeting. Iger is set to continue serving as a board member and senior advisor until the conclusion of his contract on 31 December, when he will retire.
Historically Disney tends to hire CEOs from within its production division or from rival studios. The appointment marks a shift for the entertainment giant to potentially become more media focused.
The news of D’Amaro’s promotion to CEO is a shift in Disney’s leadership strategy. It underscores Disney’s growing emphasis on its theme parks, resorts and global experiences as central drivers for company growth.
Chapek was promoted to CEO from the company’s experiences division and not its production side, with D’Amaro becoming only the second to claim that distinction.
Iger first joined the company in 1996, working his way up the leadership ladder to become CEO in 2005, taking over the reins from Michael Eisner. He remained in that position for 15 years before departing in 2020.
Following a turbulent and brief tenure by Bob Chapek, tainted by power struggles behind the scenes with Iger and the COVID-19 pandemic, Iger was asked to return to the CEO position in 2022.
Disney appears poised to balance its storytelling legacy with a renewed focus on experiential business segments that engage global audiences.
Alongside D’Amaro’s appointment, Dana Walden co-chairman of Disney Entertainment will become president and chief creative officer of the company, also starting her new role 18 March.
Walden was also rumoured as a potential candidate for the CEO role, seemingly being D’Amaro’s biggest competition for the promotion.
In a statement released by Disney, Iger said: “Josh D’Amaro is an exceptional leader and the right person to become our next CEO”.
“His ability to combine creativity with operational excellence is exemplary and I am thrilled for Josh and the company,” he said.
“Disney’s strength has always come from our people and the creative excellence that defines our stories and experiences,” D’Amaro added.
“I also want to express my gratitude to Bob Iger for his generous mentorship, his friendship, and the profound impact of his leadership”.
