Disney Reveals Pay Packages for New CEO Josh D’Amaro, Creative Chief Dana Walden

The Walt Disney Company has announced that Josh D’Amaro, currently the head of its theme parks division, will succeed Bob Iger as CEO. D’Amaro, 54, is set to officially take over the role on March 18, following a unanimous vote by the company’s board. Bob Iger has led Disney for nearly two decades across two separate terms, and his departure marks a significant transition for the company. D’Amaro's appointment follows a lengthy search process that lasted over two years, during which the board evaluated various candidates to replace Iger. In terms of compensation, D’Amaro will receive an annual base salary of $2.5 million, which will be payable weekly. He is also eligible for an annual performance-based bonus with a target equal to 250% of his base salary at the end of each fiscal year. Additionally, he will receive a long-term stock incentive valued at $26.25 million, as disclosed in filings with the SEC on Tuesday. This compensation package reflects the board's confidence in D’Amaro's leadership abilities as he prepares to guide the company. D’Amaro has expressed a vision for Disney that includes embracing new technologies, such as artificial intelligence, while also focusing on the protection of actors within the industry. He has characterized himself as a "big risk taker," indicating a willingness to explore bold strategies for the company's future. His leadership will be closely monitored as Disney navigates the challenges and opportunities in the entertainment industry.