On Wednesday, Josh D’Amaro took over officially as Disney’s new CEO, marking the end to a prolonged succession from Bob Iger. In his first memo as CEO, D’Amaro projected a future focused on streaming with Disney+ as its “digital centerpiece.”. The company will also continue to invest in and grow its lucrative theme park and cruise businesses. While the company’s CEO transition is taking place at an uncertain time for the film & entertainment industry, D’Amaro argued that, “Disney is in a category of one poised to accelerate into our next era of innovation and growth.”
This is Disney’s second attempt at Iger handing the football to a new chief, after Bob Chapek took over in February 2020. That attempt infamously didn’t pan out, ending with Disney’s Board of Directors firing Chapek in November 2022 and bringing back Iger to right the ship. Iger had some success in doing so, bringing the movie studio back to its position as Hollywood’s highest grossing film studio, after having relinquished that crown to Universal in 2023. On the other hand, Disney’s share price has floundered, up only by 9% from where it stood on the day Chapek was fired, and down 10% in the last three months. Now it will be up to D’Amaro to chart Disney’s course.
