Bob Iger Steps Aside: How Disney's New Era Begins with Josh D'Amaro at the Helm

The Walt Disney Company confirmed a long-anticipated executive transition this week. Josh D’Amaro, who currently leads Disney’s Experiences division, will assume the role of Chief Executive Officer effective March 18, 2026, coinciding with Disney’s annual shareholder meeting. This marks the end of an era for Bob Iger, the transformational leader who will transition to senior advisor status and remain on the board until his planned retirement on December 31.

Simultaneously, Dana Walden, co-chair of Disney Entertainment, has been appointed to a newly created position of President and Chief Creative Officer, overseeing the company’s media, news, and content strategies. Walden will report to D’Amaro in this restructured leadership framework.

The Visionary’s Legacy: What Bob Iger Built at Disney

To understand the significance of this transition, one must appreciate what Bob Iger accomplished during his tenure. Taking the reins from predecessor Michael Eisner in 2005, Iger engineered a series of transformational acquisitions that fundamentally reshaped Disney’s portfolio. The purchases of Pixar in 2006, Marvel Entertainment in 2009, and Lucasfilm in 2012 gave Disney commanding positions in animation, superhero franchises, and the Star Wars universe. Later, the 2019 acquisition of 21st Century Fox and the 2023 buyout of Hulu’s remaining stake solidified Disney’s content empire.

Perhaps most notably, Iger spearheaded Disney’s entry into the streaming wars by launching Disney+ in 2019, a bold move that positioned the company for the digital entertainment age. When he briefly stepped down in 2020, the pandemic had devastated Disney’s business—movie theaters shuttered, theme parks closed, and cruise ships sat idle. Yet when circumstances called him back in late 2022, Iger orchestrated a remarkable turnaround, cutting $5.5 billion in spending and stabilizing the company’s future trajectory.

From Theme Parks to the Top: D’Amaro’s Path to CEO

Josh D’Amaro brings nearly three decades of Disney experience to his new role. His career path through the company’s operational heartland—managing both Disneyland Resort in Anaheim and Walt Disney World Resort in Orlando—provided deep expertise in Disney’s most profitable segment: Experiences. This division, which encompasses theme parks, cruise ships, and consumer products, accounted for approximately 57% of Disney’s profit in fiscal 2025.

The board voted unanimously to appoint D’Amaro, with chairman James P. Gorman praising his “rare combination of inspiring leadership and innovation, a keen eye for strategic growth opportunities, and a deep passion for the Disney brand and its people.” D’Amaro has been instrumental in expanding Disney’s marquee attractions, developing Star Wars: Galaxy’s Edge, the Marvel-themed Avengers Campus, Mickey and Minnie’s Runaway Railway, and World of Frozen. Looking ahead, major projects including a Monsters, Inc. themed land at Disney World and an Avatar destination at Disneyland signal his continued ambition for the Experiences segment.

Navigating Headwinds: The Challenges Awaiting Disney’s Next Leader

Yet D’Amaro faces formidable obstacles as he assumes control of the entire House of Mouse. Disney’s traditional broadcast media business has been in structural decline for years, a secular shift that no single executive can easily reverse. The Disney stock price reflects this struggle—essentially flat over the past three years despite broader market gains.

The critical test for D’Amaro will be whether he can replicate his operational success in the Experiences segment—with its tangible assets, loyal customer bases, and consistent profitability—across the broader company’s more volatile entertainment and media operations. His challenge is to balance the strength of the parks division against the headwinds facing traditional broadcasting and entertainment.

Why Investors Are Watching This Transition Closely

For shareholders, this leadership change represents both opportunity and uncertainty. Bob Iger’s track record of strategic acquisitions and industry disruption set an exceptionally high bar. Yet markets have become frustrated with Disney’s stagnant stock performance in recent years, suggesting that past glory does not guarantee future returns. D’Amaro’s appointment signals Disney’s confidence in promoting from within, betting that operational excellence can translate to enterprise-wide revitalization. How quickly and effectively he can address the media segment’s structural challenges will determine whether Disney can break free from its recent doldrums and deliver value to patient investors.