Disney Chairman James Gorman on Josh D'Amaro's CEO Appointment and Company Future

Josh D'Amaro Named Disney CEO

• 🎯 Josh D'Amaro has been appointed as the new CEO of The Walt Disney Company, succeeding Bob Iger, effective March 18.
• 🏆 D'Amaro, a 28-year veteran, was chosen after a three-year search and is described as a "standout" executive who beat "all comers."
• 💡 His experience leading Disney's parks, cruises, and consumer products division, a major profit driver, was a key factor in the selection.

Bob Iger's Transition and Role

• 🤝 Bob Iger will remain with Disney as a board member and senior advisor until his retirement at the end of 2026, providing guidance and mentorship.
• 🌟 Iger's second tenure as CEO is credited with turning around the streaming unit and preparing the company for changes in media and AI.
• 🚀 The transition is framed as a selfless act by Iger, ensuring a clean start for the new leadership.

Leadership Team and Future Strategy

• 🎨 Dana Walden has been appointed President and Chief Creative Officer, reporting to D'Amaro, to emphasize creativity and storytelling at the company's core.
• 🧩 The company considered over 100 candidates, including internal executives like Jimmy Pitaro and Alan Bergman, with a focus on retaining top talent.
• 📈 D'Amaro will be tasked with boosting profitability in film and streaming, managing declining traditional TV viewership, and overseeing a $60 billion, 10-year expansion of resorts.

D'Amaro's Vision and Capabilities

• 🌟 D'Amaro is recognized for his innovation, particularly in launching Star Wars-themed lands and refreshing Epcot attractions.
• 🛠️ His leadership experience includes managing a vast operation with 12 theme parks, 57 hotels, and over 185,000 employees.
• 🚀 The chairman emphasizes D'Amaro's capability for future achievements, not just past accomplishments, highlighting his potential as CEO.

Company Outlook and Chairman's Role

• 💡 Disney Chairman James Gorman expressed confidence in the company's future, citing its quality assets and strong fundamentals.
• 💰 Gorman noted that the company's current trading multiple (15 times earnings) is unusually low given its quality.
• 🤝 Gorman plans to remain involved in supporting D'Amaro and the new leadership team through the transition.