Josh D’Amaro has officially taken over as the next CEO of Disney this week. “I am humbled and honored to help write the next chapter of this company alongside this team.”
This week, Josh D’Amaro has officially taken over as the CEO of Disney. D’Amaro was previously serving as the chairman of Disney Experiences, which entailed overseeing the company’s theme parks, cruise line, resorts, and consumer products.
D’Amaro is succeeding Bob Iger as chief executive, which became official during Disney’s annual shareholder meeting on Wednesday.
Reports of the first memo D’Amaro wrote to employees and cast members exuded excitement and nostalgia regarding his own personal connection to Disney which started as a child, like for most of us.
“More than 40 years ago, my family took me to Disneyland for the first time. One of the first attractions we rode was Peter Pan’s Flight, inspired by the animated film so many families already knew and loved. I can still picture my father’s face when our pirate ship lifted into the dark. As we flew over London, he leaned in and said, ‘See, I told you. It feels like we’re flying!’ I remember that moment clearly. It was joy. It was family. And it was Disney,” D’Amaro wrote.
“I have thought about that moment many times because it captures something essential about this company.”
“At its best, Disney creates stories, characters, and experiences that people connect with deeply and carry with them for a lifetime. That takes exceptional creativity, craftsmanship, and thousands of people united by a shared commitment to excellence.”
Disney has been enduring a time of uncertainty when it came to who would be taking over as CEO and recent reorganization of the company. Disney’s stock is down by more than 10% year to date.
D’Amaro’s initial and immediate tasks will be to maintain momentum in the company’s growth areas. These areas include its theme parks and streaming service, which remain the main focus for investors, according to reports.
“The magic of Disney comes to life in many ways — through our films and series, ESPN and sports, our music and stage shows, our streaming platforms and consumer products, and our theme parks, hotels, and cruise ships. Each strengthens the others, extending Disney’s reach in ways no one else can match,” D’Amaro wrote.
During D’Amaro’s remarks to shareholders, he emphasized disruption occurring within the media industry as well, and stated that the positive side of those obstacles is how it led to deal-making for the company and consolidation.
“Disney is in a category of one poised to accelerate into our next era of innovation and growth, and this next chapter will be driven by staying focused on world-class creativity, enhanced by technology, bringing unforgettable stories to audiences wherever they are,” D’Amaro said.
“That puts Disney in a category of one. It was clear to me when I started here 28 years ago, and it is even clearer today. No one else can do what we do with the same combination of creativity, quality, and global scale,” D’Amaro acknowledged in his memo.
“We reach people in more places than ever before, and every minute of every day, someone somewhere in the world is engaging with Disney. We stand on an extraordinary foundation, and the priorities that will guide us forward are clear.”
This transition also marks the second time that Iger handed over the CEO role to a successor within about six years. Iger is set to remain as a Disney senior advisor and board member until he retires fully from the company at the end of the year (December 31st).
“I never dreamed I would end up as CEO of The Walt Disney group, and I certainly never expected to step into the role a second time. But once I did, I was quickly reminded of the tremendous responsibility that being entrusted with something very special bears,” Iger said during the shareholder meeting, marking his final day at the company.
“When Bob returned to the company a few years ago his goal was to fortify tour business and lay the groundwork for long-term growth, by reigniting creativity and improving performance at our studios, building a robust and profitable streaming business, transforming ESPN for a digital future, and turbocharging our parks and experiences,” D’Amaro said during the meeting.
“It is a privilege to follow in his footsteps and lead this team, and I do so with a deep sense of responsibility and excitement about our future. This is an extraordinary company, and that is because of the talented, passionate, and dedicated people who work here,” he wrote at the end of his memo.
“That feeling of flying I had on Peter Pan all those years ago is still real to me. And today, I am honored to move forward with all of you — with ambition, optimism, and absolute confidence in what we can build together.”
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at eric.mastrota@thenationaldigest.com.
