Disney Has Found Bob Iger's Replacement - Here's What That Means

For just the third time in nearly two decades, Disney is about to have a new CEO. Bob Iger is officially stepping down as the longtime head of one of the biggest companies in the world for the second (and, presumably, last) time. Iger returned to Disney in late 2022 after things with his successor Bob Chapek didn't work out. So, who will have to fill those big shoes? Enter Josh D'Amaro.

In a press release, it was confirmed that, after much speculation, the Walt Disney Company Board of Directors has named D'Amaro, the current head of the company's theme parks and consumer products division, as its next Chief Creative Officer. Effective at Disney's upcoming annual meeting on March 18, 2026, he will officially succeed Iger. Meanwhile, Dana Walden, the current co-chair of Disney Entertainment, is being promoted to Chief Creative Officer. Iger had this to say about it:

"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. His ability to combine creativity with operational excellence is exemplary, and I am thrilled for Josh and the company."

Replacing Iger is no small thing. He has more than 40 years of experience at Disney and almost 20 as CEO across his two stints. Iger took over for Micahel Eisner in 2005 and soon began to reshape the company. He's the man responsible for Disney acquiring Pixar, Marvel, and Lucasfilm. He's expanded the parks. He launched Disney+. There was Disney before Iger and Disner after Iger.

"Disney's strength has always come from our people and the creative excellence that defines our stories and experiences," Josh D'Amaro said in a statement. "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."

To say that D'Amaro has his work cut out for him would be an understatement. The Disney he's inheriting and the world he's inheriting it in is vastly different from the one Iger took over. D'Amaro comes from the theme park side of the company which is good, because it's been Disney's bread and butter in recent years. There are problems, though, many of which started under Bob Chapek, such as the Florida campus debacle. 

The Disney parks are much more expensive these days. The old, free FastPass system has been replaced by the Lightning Lane system, which costs money. Rising ticket prices have outpaced the rate of inflation (per CNBC), and there have also been controversial changes. Rivers of America and Tom Sawyer Island are being demolished for a "Cars" ride, while the beloved Muppet Vision 3D was recently closed. But Disney's parks remain wildly profitable for the company, which is why it's largely letting patrons shoulder the burden of these costly and, at times, unfavorable changes.

Let's also not forget the disaster that was the "Star Wars: Galactic Starcruiser," which cost around $1 billion and closed after less than two years. All of this is to say that, as CEO, the parks are now fully D'Amaro's responsibility, and he has all of the power to improve them.

It's almost impossible to summarize the challenges facing a company as big as Disney. It releases the biggest movies in theaters, has the biggest global brands under its umbrella, and is one of the leaders in streaming behind Netflix. But Netflix is in the process of buying Warner Bros, which will make it bigger and more formidable in Hollywood.

One of the most notable things that Bob Iger did during his tenure was increase Disney's footprint in Hollywood. Between Pixar, more live-action franchises, Marvel, and Lucasfilm, the company's presence in media grew exponentially. While the expansion of big franchises on Disney+ also helped kill their prominence, Disney is one of the biggest players in the streaming wars thanks to Hulu and ESPN as well.

Iger was incredibly adept at navigating Hollywood, which begs the question: Will Josh D'Amaro prove equally capable, particularly as the industry continues to rapidly evolve? The good news is that Dana Walden is a steady hand in that department and can help guide D'Amaro. As CEO, one can't be great at everything, but D'Amaro has a lot of qualities that seem to suit Disney as a company.

Bob Chapek inherited Disney during the Covid-19 pandemic and floundered. Fair or not, his tenure was rough. He also, broadly speaking, never seemed like a good fit. D'Amaro, on the other hand, has a confidence and showman quality that can be very helpful to him as Disney's CEO. I saw this first hand when he presented a "real" lightsaber on stage at SXSW in 2023.

There's a presence to him that was sorely lacking with Chapek. Can he be what Disney needs right now? Time will tell, but the eyes of the entertainment world are firmly on him.