Disney Names Parks Chief Josh D’Amaro as New CEO

Disney Announces Leadership Transition

The Walt Disney Company has appointed Josh D’Amaro, head of its successful theme parks division, as its new Chief Executive Officer, effective March 18. D’Amaro will succeed Bob Iger, who is credited with shaping the modern Disney through major acquisitions.

D’Amaro, a nearly three-decade company veteran, previously led the Experiences unit, which includes theme parks and cruises. This division generated a record operating profit of nearly $10 billion last fiscal year, accounting for almost 60% of the company's earnings.

Navigating a Shifting Media Landscape

The new CEO faces significant industry challenges. These include navigating the impact of artificial intelligence on content creation, upcoming labor negotiations with Hollywood guilds, and intense competition in the streaming market.

While D'Amaro has a strong record in the parks business, he must also address concerns about his limited experience in Hollywood as the media industry undergoes rapid transformation.

Summary and Outlook

D'Amaro's appointment aims to provide stable leadership after a period of succession uncertainty. His primary focus will be steering Disney through technological disruption and competitive pressures while leveraging the strength of its most profitable division.

FAQ

Q: Who is the new CEO of Disney?
A: Josh D’Amaro, the former head of Disney's Experiences unit, will become the new CEO.

Q: What is the biggest challenge for the new CEO?
A: D’Amaro's key challenges include the rise of artificial intelligence in media, fierce streaming competition, and critical Hollywood union negotiations.

Source: Investing.com