Disney parks chief Amaro named to succeed Bob Iger as CEO

The decision on the next chief executive at Disney comes almost four years after the company's choice to replace Iger went badly, forcing Iger back into the job.

Only two years after stepping down as CEO, Iger returned to Disney in 2022 after a period of clashes, missteps and a weakening financial performance under his hand-picked successor, Bob Chapek.

Chapek had been viewed by many as too gruff and buttoned up, focusing intently on business and not taking enough care with the creative and imaginative elements that have helped Disney flourish over decades.

Iger had strengthened the Disney brand through his acquisitions of Pixar, Marvel and Lucasfilm, oversaw the expansion of the company in China and India and had a laser-like focus on technology that both made the Disney product better, and more accessible. Iger, at the same time, is approachable, media savvy and has deftly managed a company that is like no other.

Disney meticulously and methodically sought out its next CEO this time. The company created a succession planning committee in 2023, but the search began in earnest in 2024 when Disney enlisted Morgan Stanley Executive Chairman James Gorman to lead the effort. That still gave it ample opportunity to vet candidates, as Iger agreed to a contract extension that keeps him at Disney through the end of 2026.

While external candidates were considered, it was widely expected that Disney would choose an internal candidate to become its next CEO. Internal candidates were mentored by Iger, interacted with the company’s 15 board members (including Iger) and received external coaching.

Attention soon focused on D’Amaro and Disney Entertainment Co-Chairman Dana Walden as the front runners among Disney’s internal candidates.

D’Amaro, who has been with Disney since 1998, has been leading the charge on Disney’s multiyear $60 billion investment into its cruise ships, resorts and theme parks. He also oversees Walt Disney Imagineering, which is in charge of the design and development of the company’s theme parks, resorts, cruise ships, and immersive experiences worldwide. In addition, D’Amaro has been leading Disney’s licensing business, which includes its partnership with Epic Games.

There had been speculation that Disney might go the route of naming co-CEOs, a move that has started to become more popular with companies. Oracle and Spotify are among those who named co-CEOs in 2025.

D’Amaro’s appointment is effective on March 18.

Disney shares rose more than 1% in early trading.