Josh D’Amaro was declared the new CEO of the Walt Disney Corporation after a long period of searching.
D’Amaro, a veteran of the theme park division with 28 years of experience, will take the new position from incumbent CEO Bob Iger on March 18. Despite having little experience in movies and television, the company’s board of directors expressed confidence that D’Amaro’s “rare combination of inspiring leadership and innovation, a keen eye for strategic growth opportunities, and a deep passion for the Disney brand and its people,” made him the natural choice.
“Throughout this search process, Josh has demonstrated a strong vision for the company’s future and a deep understanding of the creative spirit that makes Disney unique in an ever-changing marketplace. He has an outstanding record of business achievement, collaborating with some of the biggest names in entertainment to bring their stories to life in our parks, showcasing the power of combining Disney storytelling with cutting-edge technology,” Disney Board of Directors Chairman James Gorman said in a statement.
Iger concurred in his own statement. “Josh D’Amaro is an exceptional leader and the right person to become our next CEO,” he said. “He has an instinctive appreciation of the Disney brand, and a deep understanding of what resonates with our audiences, paired with the rigor and attention to detail required to deliver some of our most ambitious projects. His ability to combine creativity with operational excellence is exemplary and I am thrilled for Josh and the company.”
D’Amaro will move to head of the company from his previous position as chairman of Disney Experiences, the division that raked in 60% of the company’s profit last year.
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Four candidates dominated the three-year-long succession crisis: ESPN head Jimmy Pitaro, Disney movie chief Alan Bergman, Disney television chief Dana Walden, and D’Amaro, according to the New York Times. Walden was long considered Hollywood’s top pick.
Walden will instead become the president and chief creative officer of Disney.
