Disney says parks chief Josh D’Amaro to succeed Bob Iger as CEO

The Walt Disney Company announced on Tuesday that Josh D’Amaro, the head of its theme parks division, will succeed Bob Iger as chief executive officer. D’Amaro, 54, is set to 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 comes after a lengthy search process that lasted over two years, during which the board evaluated various candidates to replace Iger. D’Amaro's leadership style is characterized by a combination of inspiring innovation and strategic growth, which the board believes will benefit Disney moving forward. He has expressed a vision for the company that includes embracing new technologies, such as artificial intelligence, while also focusing on the protection of actors within the industry. As he prepares to take on the CEO role, D’Amaro has indicated that he is a "big risk taker," suggesting a willingness to explore bold strategies for Disney's future. In terms of compensation, D’Amaro will start with an annual base salary of $2.5 million, which will be payable weekly. He is also eligible for an annual target incentive bonus of 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. His leadership will be closely watched as the company navigates the challenges and opportunities in the entertainment industry.