Disney opens a new era as Bob Iger steps down as CEO (again)

Disney $DIS -0.22% parks chief Josh D’Amaro, who led the company’s $36 billion experiences division, has taken over as CEO from Bob Iger, who moves to a senior advisory role.

Josh D’Amaro will become chief executive of The Walt Disney Company on Wednesday, assuming the role at the company’s annual shareholder meeting and succeeding Bob Iger after the outgoing CEO’s nearly two decades at the helm.

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Before his elevation to CEO, D’Amaro had run Disney Experiences, the company’s largest business segment, since 2020. The division — which encompasses theme parks, resort hotels, cruise lines, and consumer products — generated $36 billion in annual revenue in fiscal year 2025 and employs 185,000 people worldwide, Disney said. The company had total annual revenue of $94.4 billion in fiscal year 2025.

Alongside D’Amaro’s appointment, Dana Walden was named president and chief creative officer, also effective Wednesday. Walden previously co-chaired Disney Entertainment, overseeing the company’s media, news, content, and streaming businesses globally. Disney described the role as a first for the enterprise; Walden will report directly to D’Amaro.

D’Amaro has worked at Disney for 28 years, starting at Disneyland Resort in 1998. He built his career mainly in the parks business, holding roles in finance, operations, marketing, and business strategy in the U.S. and abroad. In 2020, he became chairman of Disney Experiences, overseeing 12 theme parks and 57 resort hotels worldwide, with a new park planned for Abu Dhabi. “There is no limit to what Disney can achieve,” D’Amaro said in a statement.

Disney’s board voted unanimously to elect D’Amaro in February after a succession process that began in January 2023. Board chairman James Gorman said in a statement that D’Amaro had demonstrated “a strong vision for the company’s future” throughout the search.

Iger will remain with the company as a senior advisor and board member through Dec. 31, 2026. Iger has now stepped away from the chief executive post twice; a previous handoff to Bob Chapek collapsed within two years, prompting Iger’s return in 2022, according to CNBC.

As of Tuesday, Disney stock had shed more than 10% since the start of the year.

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