Josh D'Amaro officially ascends to Disney CEO

Josh D'Amaro officially became CEO of the Walt Disney Company on Wednesday, taking the reins from Bob Iger, who has retired following his second stint as Disney's chief executive.

Josh D'Amaro

D'Amaro reflected on his history with the company during Disney's annual meeting Wednesday.

"Like so many of you, my connection to Disney goes back to my childhood, long before I began my career here," he said. "I grew up in a Disney family. We watched 'The Wonderful World of Disney' on Sunday nights."

D'Amaro said he first visited Disneyland when he was 10 years old. The CEO emphasized Disney's relationship with its fans, saying, "There's nothing quite like it."

He believes the company is well positioned for the future.

Last year, Disney released three top films, including "Zootopia 2." It holds a record as the highest-grossing animated film, bringing in $1.9 billion at the box office, he said. He was also enthusiastic about Disney's streaming businesses, which include Disney+, Hulu and ESPN.

Disney's Experiences business delivered $10 billion in operating income last year, he said, another record. The Experiences division includes the theme parks, hotels, Disney Cruise Line and tour operations. 

In recent months, Disneyland Park in Anaheim and Tokyo Disney Resort welcomed their 900 millionth guests, he said.

"While it took many years to achieve these milestones, today, when you consider all the ways that people interact with Disney through all of our platforms on a daily basis, the power of those connections is astonishing," he said. "Looking at our hand, it's an extraordinary one."

Disney is developing new and expanded concepts for its domestic and international theme parks, as well as expanding the Disney Cruise Line fleet, D'Amaro said.

The CEO thanked Iger, praising his "creativity, integrity and ambition that will continue to guide all of us."

Iger led the company as its CEO from 2005 to 2020, and again from 2022 to 2026. In that time, he led some of the company's major moves, including Disney's acquisitions of Pixar, Marvel, Star Wars and 21st Century Fox; the launch of streaming service Disney+; and major projects in Disney parks like Star Wars: Galaxy's Edge.

Bob Chapek became CEO in 2020, but Chapek was ousted after a tumultuous tenure at the helm.

"When I returned in 2022, people had lost confidence in the company where they worked," Iger said. "Today, everywhere I turn, I sense confidence and excitement about what lies ahead."

Disney chairman James Gorman thanked Iger for his service. "He has brilliantly prepared Disney for this moment."
Gorman also shared enthusiasm for D'Amaro's rise to the head of the company.

"The board is so enthusiastic about the leadership Josh will bring to this role and the future he will help shape," he said. "He understands this company at its core, and is exceptionally well positioned to lead it in this next chapter of creative excellence and innovation."