Walt Disney has named Josh D’Amaro, who led its theme parks division, as its new CEO. He will succeed Bob Iger and begin work on March 18.
D’Amaro has been with Disney since 1998. In recent years, he has led Disney Experiences, the company’s most consistently profitable business amid streaming woes. He oversees 12 theme parks and 54 resorts around the world. The division is expected to generate $36 billion in revenue in 2023.
Iger, who has led the company for nearly two decades, said he was leaving “at a time when Disney’s future has never been brighter.” Since returning in 2022, he has focused on cutting costs in streaming, television, and film production, and developing the parks business.
According to company documents, D’Amaro will receive a base salary of $2.5 million per year, as well as at least $26.3 million in Disney stock annually. He will also receive a $9.7 million bonus, according to company documents.
Disney also named Dana Walden, co-head of entertainment, to the new role of chief creative officer. She will report to D’Amaro.