Disney names parks chief Josh D'Amaro as its next 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 when Iger steps down in March. D’Amaro, who is 54 years old, will officially take over the role on March 18 following a unanimous vote by the company’s board. 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 by Disney's board, which has been considering potential successors for over two years. The board expressed confidence in D’Amaro, highlighting his combination of inspiring leadership and innovation, as well as his strategic vision for growth. His leadership experience in the theme parks division is seen as a valuable asset as he prepares to guide the company into its next chapter. 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 set to receive an annual target incentive bonus of 250% of his base salary at the end of each fiscal year. Additionally, he will be granted a long-term stock incentive valued at $26.25 million, according to filings with the SEC. As D’Amaro prepares to take over, he has expressed a willingness to embrace risks and is focused on the future of the company. He has indicated a commitment to protecting actors while also integrating advancements in artificial intelligence into Disney's operations. This forward-looking approach suggests that D’Amaro aims to navigate the challenges and opportunities facing Disney in a rapidly changing entertainment landscape.