Bob Iger left Disney once before. He decided to retire, and his position was taken over by Bob Chapek. What followed was, by any measure, not great. So the board brought Iger back to the top job, and there he stayed for a few more years.
One day, though, it was all going to have to change again. That day is today. Iger has announced his second departure and who will succeed him.
The Walt Disney Company’s Board announced the results of a unanimous vote that was held earlier in the week. Disney Experiences Chairman Josh D’Amaro is to become the new Chief Executive Officer of The Walt Disney Company.
This will take effect in about six weeks at the upcoming Annual Meeting on March 18th, when the handover will take place. At the same meeting, D’Amaro will be appointed to the board as a director.
D’Amaro has been with Disney for 28 years and was seen as the driving force behind the global expansion of Disney Experiences, the largest sub-segment in the company with a $36 billion revenue. This is the division that overseas theme parks, resorts, cruise ships, and “unique vacation experiences” and is where Imagineering lives in the organisation.
Following the trend of splitting out creative work from the business side, co-chairman Dana Walden has been named President and Chief Creative Officer of The Walt Disney Company to be appointed on the same day.
Walden will report directly to D’Amaro and, according to the press release:
“…will ensure that storytelling and creative expression across every audience touchpoint consistently reflect the brand, engage audiences at scale, and advance core business objectives, while driving enterprise-wide initiatives and translating vision into action.”
Iger will continue to serve as Senior Advisor and a member of the Disney Board until his official retirement on December 31st, 2026.
Maybe their first act will be to consider if the average Disney experience, now being priced as a full-on luxury activity rather than a high-quality but affordable treat, is good for the brand in the long term.
