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Josh D'Amaro stepped into the role of Walt Disney Company's ninth chief executive on Tuesday, ending a succession saga that consumed the entertainment giant for the better part of three years and twice upended its leadership.The 54-year-old Disney veteran, who spent 28 years climbing through the company's parks and experiences division, took the reins at the annual shareholder meeting in Burbank. He replaces Robert Iger, 75, whose second stint as CEO began in late 2022 after the board fired Bob Chapek following a turbulent two-year tenure.
Disney's succession problem is older than most of its streaming subscribers. The 2005 handoff from Michael Eisner to Iger was bitter and public. The 2020 transition to Chapek lasted barely two years before the board reversed course, bringing Iger back with an explicit mandate: stabilize the company and find someone permanent.
The board formed a succession planning committee in January 2023. Six months later, it extended Iger's contract through the end of 2026, buying time for a deliberate search. The real acceleration came when activist investor Nelson Peltz and his Trian Fund Management launched a proxy battle in 2024, pressuring directors to show concrete progress.
In August 2024, the board tapped James Gorman, the former Morgan Stanley chief executive and newly installed Disney board chairman, to lead the search. Gorman had engineered his own succession at Morgan Stanley in 2023, and his appointment signaled the board intended to follow a similar disciplined playbook.
The board voted unanimously on February 2, 2026, to name D'Amaro as CEO. His compensation package is valued at roughly $40 million annually, with a $2 million base salary, $26.2 million in stock incentives, and a one-time $9.7 million cash bonus.
D'Amaro's candidacy rested on numbers. The Experiences segment he led generated $36 billion in revenue in fiscal year 2025, making it the company's most reliable profit engine. His popularity among Disney's workforce, where employees are known as Cast Members, also factored into the board's calculus.
Dana Walden, the other leading internal candidate, was elevated to president and chief creative officer rather than pushed aside. She becomes the first woman to hold the title of president at Disney, overseeing a unified portfolio of film, television, and streaming content. The move follows what analysts have called the Gorman model: keep the runner-up in a prominent role to prevent a talent drain.
External candidates were considered. Andrew Wilson, the Electronic Arts chief executive, was reportedly among the finalists evaluated in late 2024. The board ultimately favored institutional knowledge over outside perspective.
Investors offered a mixed verdict during Iger's second act. Disney shares returned approximately 9.3 percent between November 2022 and March 2026, trailing the broader market but recovering from the 41 percent decline that marked the Chapek period. The stock's modest performance reflected both the turnaround work Iger completed and the uncertainty that lingered around leadership.
For full coverage, visit https://www.linos.ai/entertainment/disney-ceo-damaro-succeeds-iger/
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