The Walt Disney Company announced that Josh D’Amaro will become chief executive officer, succeeding Bob Iger who will remain on the board as a strategic advisor until the end of 2026. Dana Walden was promoted to president and chief creative officer during the same transition.
D’Amaro, who has led Disney’s Experiences division for nearly two decades, guided the parks, cruises and resorts segment to $36 billion in revenue in fiscal 2025. His appointment signals a continued emphasis on the Experiences business while positioning the company to integrate its streaming, sports and entertainment assets.
In its first quarterly report under D’Amaro, Disney posted revenue of $26.0 billion for Q1 2026, a 5 % increase from $24.7 billion in Q1 2025. Segment operating income fell 9 % as the Entertainment segment’s operating income declined 35 %, offset by record $10.0 billion in Experiences revenue. Diluted earnings per share were $1.34, down from $1.40 in the prior year, reflecting the mix shift and higher operating costs in the Entertainment segment.
Management emphasized that D’Amaro will prioritize cross‑segment synergies and capital allocation to accelerate growth. The company has reaffirmed a $60 billion capital plan for Disney Experiences over the next decade, resumed share buybacks, and increased dividends, while integrating ESPN into Disney+ and launching a dedicated ESPN streaming service.
Analysts reacted to the transition with caution. Guggenheim lowered its price target for Disney from $140 to $115, citing a “show‑me” period for D’Amaro to demonstrate shareholder returns. Disney shares have fallen 11.84 % year‑to‑date, and the company’s performance has lagged the S&P 500 since late 2022.
Bob Iger said, “Josh D’Amaro is an exceptional leader and the right person to become our next CEO. 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.” D’Amaro added, “There is no limit to what Disney can achieve, and I am excited to work with our teams across the company and brilliant creative partners to honor Disney’s remarkable legacy while continuing to innovate, grow, and deliver exceptional value for our consumers and shareholders.” James Gorman, chairman of the board, noted, “Josh D’Amaro possesses that 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 – all of which make him the right person to take the helm as Disney’s next CEO.”
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