Disney names parks boss Josh DâAmaro as its next CEO to succeed Bob Iger, effective March 18
Published Tue, Feb 3 2026
8:33 AM EST
Updated Moments Ago
Lillian Rizzo@LilliannnnWATCH LIVEKey Points
- Disney made the long-awaited announcement of its successor to CEO Bob Iger.
- This marks the second time Disney selected a replacement for Iger in six years.
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A Disney store in Manhattan, New York City, July 7, 2025.
Sven Hoppe | Picture Alliance | Getty Images
Disney has named Josh D'Amaro, chairman of Disney Experiences, as its next CEO, succeeding Bob Iger and clinching a closely watched succession race at the Mouse House.
Investors, industry insiders and onlookers have long awaited the announcement of who will take over as the next leader of one of the most storied U.S. companies. The appointment marks the second time in six years that Disney has selected a successor to Iger â his previous pick in parks boss Bob Chapek devolved into a public spectacle of corporate governance that saw Iger reclaim the CEO spot and restart the clock on retirement.
For the last several years, the Disney board â led by former Morgan Stanley CEO James Gorman â has been vetting candidates for the top job, primarily among Disney's executive ranks. Iger's four direct reports â D'Amaro, ESPN Chairman Jimmy Pitaro and Entertainment Co-Chairmen Dana Walden and Alan Bergman â all interviewed with the succession committee as early as 2024, CNBC previously reported.
Speculation narrowed to D'Amaro and Walden in recent months.
Tune in at 9 a.m. ET as Disney Chairman of the Board James Gorman joins CNBC TV to discuss the company's succession plan. Watch in real time on CNBC+ or the CNBC Pro stream.
D'Amaro steps into the role at Disney after a period of leadership uncertainty and mixed reception from Wall Street on the state of Disney's business. On Monday Disney reported quarterly earnings and revenue that topped expectations â boosted by its theme parks and streaming â yet the stock lost 7%. Iger told investors he was confident in the changes made at Disney over the last three years and its path to future success.
In particular, the experiences unit that houses the theme parks, resorts and cruises, reported more than $10 billion in quarterly revenue during the period for the first time. The division's growth has left it with plenty of room to run.
â³Turbocharging the parks, bringing streaming to profitability and double-digit margins, and improving the theatrical business, bodes well for a new CEO," CFO Hugh Johnston told CNBC this week.
The company is planning to develop a new theme park and resort in Abu Dhabi â separate from its commitment to invest $60 billion in its theme parks over the next decade â and is looking to capitalize on its dominance of the box office in 2025. But front and center remains the state of the entertainment business, as Disney navigates the erosion of traditional TV and puts its efforts behind marquee content and fueling profitability in the streaming business.
It will be up to Iger's successor to steer Disney into its next phase.
Following in Iger's footsteps
Bob Iger, CEO of The Walt Disney Company, appears at the Disney Entertainment Showcase at D23: The Ultimate Disney Fan Event in Anaheim, California, Aug. 9, 2024.
Araya Doheny | Getty Images Entertainment | Getty Images
Leading a media and theme park conglomerate like Disney is no easy task. Neither is taking over for Iger.
The storied CEO has been at the helm of Disney for roughly 20 years, pieced together by two stints. Iger first served as Disney's CEO for 15 years â following a career at Disney's broadcast network, ABC, and then in leadership roles at the parent company â before first stepping down in 2020.
In one swift announcement, Disney announced that Chapek, who had most recently served as chairman of Disney Parks, would take over as CEO. Iger's announcement had come earlier than expected, and his successor pick generally surprised the industry.
During Iger's first tenure at the helm, he oversaw acquisitions and revitalized the company into a powerhouse. When he left in 2020, his list of accomplishments was lengthy and included the recently launched streaming service Disney+, which initially amassed subscribers at a quick rate.
However, the handoff to Chapek was mired in drama and overshadowed by the Covid pandemic, which spurred stay-at-home orders that closed movie theaters and theme parks, although it was a boon to streaming.
Disney's stock had soared early during the pandemic as its streaming subscriber numbers rose. But by late 2021, under Chapek, Disney's share price began to fall as the company reported earnings misses and slower streaming growth compared with Wall Street expectations.
In late 2022, as criticism of Chapek's management of Disney mounted, Iger reclaimed the top job. The announcement propelled the company's stock, even as Iger's agenda would include a restructuring of the company he'd left behind less than two years earlier.
In his second stint as CEO, Iger focused less on acquisitions and more on a massive restructuring that put into place $5.5 billion of cost cuts, enacted layoffs and created three main divisions of the company: Disney Entertainment; ESPN and Sports; and Parks, Experiences and Products.
"I'm incredibly proud of all that we've accomplished over the past three years to set Disney on the path to continued growth. I'm inspired and energized by the opportunities ahead for this wonderful company," Iger told investors on Monday.
Iger also fended off an activist campaign, steered the TV and streaming business to profitability, returned Disney back to the top of the box office and announced a sweeping investment in its theme parks, arguably its most ironclad business.
Finding the next Bob
Disney CEO Bob Iger gives a thumbs-up on the court before a game between the LA Clippers and the Phoenix Suns at Intuit Dome in Inglewood, California, Oct. 24, 2025.
Jordan Teller/isi Photos | Isi Photos | Getty Images
While Iger worked to get the business back on track, the question of succession once again loomed large.
Soon after returning as CEO, Iger told CNBC he had no intention of staying on longer than two years.
Like previous times in which Iger said he intended to step down, his tentative departure date got pushed down the road. By mid-2023 Disney extended Iger's deal by two years and said it would name a successor by early 2026.
The CEO said as part of his contract extension he wanted to "ensure Disney is strongly positioned" for the next person to take on the role.
"The importance of the succession process cannot be overstated," Iger said in the statement at the time.