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Disney Names Experiences Chief Josh D’Amaro CEO
Dana Walden and Josh D’Amaro // Courtesy of Disney
After a lengthy bakeoff between Disney Experiences Chairman Josh D’Amaro and Disney Entertainment Co-Chairman Dana Walden, the company has finally chosen its new CEO to succeed Bob Iger: D’Amaro.
The Big Picture: Disney’s succession game over the past decade has been a wilder roller coaster than any you’ll find at Disney World — Iger tapped former Parks chief Bob Chapek as CEO, then reclaimed the role in a corporate coup, and has since worked with Disney Chairman James Gorman (who oversaw a smooth transition at Morgan Stanley) to help get the choice right this time.
Behind The C-Suite: The Bob Iger 2.0 era is over.
D’Amaro’s elevation shows where the board sees most of the company’s growth — its expanding number of theme parks, cruises, and consumer products.
Walden will stay at the company in a new, elevated content role — she’s now president and chief creative officer, overseeing film, TV, and streaming.
Iger officially steps down on March 18th, at which point he will serve as senior adviser and board member until his contract ends later this year.
Final Decision: Despite Disney historically being a content company (the IP fuels attendance at the parks, after all), IRL experiences have become a crucial growth engine, generating 38% of Disney’s revenue in its past fiscal year and 57% of operating income. Even if much of that growth came from higher ticket prices, it’s no wonder the Mouse House plans to invest a record $60 billion in the sector over the next decade. And as Disney continues to expand globally, D’Amaro’s experience running parks and cruises around the world gives him the right résumé for that push.
Coming Soon: D’Amaro is also known to be bullish on video games, having helped drive the company’s $1.5 billion deal with Epic Games… so we wouldn’t be surprised if one of the first major announcements of his tenure is some sort of gamified metaverse within Disney+.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.