Disney CEO Bob Iger to Retire. Parks Chief Josh D'Amaro Will Head the House of Mouse. Here's What Investors Need to Know

In a press release on Tuesday, the Walt Disney Company (NYSE: DIS) announced a long-rumored leadership change. The company revealed that Josh D'Amaro, head of Disney's Experiences segment, will be appointed CEO, effective March 18, 2026, to coincide with the company's annual meeting. D'Amaro will succeed storied CEO Bob Iger, who will assume the role of senior advisor and remain on Disney's board until his planned retirement on Dec. 31.

At the same time, Disney Entertainment co-chair Dana Walden has been named to the newly created post of president and chief creative officer, heading up the company's media, news, and content strategies. Walden will report directly to D'Amaro.

Image source: The Walt Disney Company.

D'Amaro has been with Disney for 28 years, previously heading up Disneyland Resort in Anaheim and Walt Disney World Resort in Orlando, before taking the helm of Disney's Experiences division, which includes the company's theme parks, cruise ships, and consumer products. The segment accounted for about 57% of Disney's profit in fiscal 2025 (ended Sept. 27). The board voted unanimously to appoint D'Amaro.

Disney chair James P. Gorman noted that D'Amaro "possesses that rare combination of inspiring leadership and innovation, a keen eye for strategic growth opportunities. and a deep passion for the Disney brand and its people -- all of which make him the right person to take the helm."

In the press release, Disney noted that D'Amaro had been "instrumental in expanding Disney's iconic franchises," including such high-profile additions as "Star Wars: Galaxy's Edge, the Marvel-themed Avengers Campus, Mickey and Minnie's Runaway Railway, and World of Frozen." It also highlighted upcoming projects, including a Monsters, Inc.-themed land at Disney World and an Avatar destination at Disneyland.

Iger has been the driving force behind Disney, succeeding former CEO Michael Eisner in 2005. Iger led Disney through several game-changing acquisitions, including Pixar in 2006, Marvel Entertainment in 2009, and Lucasfilm in 2012. He also led the 2019 acquisition of 21st Century Fox and the 2023 buyout of the remaining stake in Hulu. Iger also spearheaded the launch of Disney+ in 2019, bringing the House of Mouse into the streaming era.

Iger previously stepped down in 2020, before resuming his post in late 2022, as the COVID-19 pandemic shuttered movie theaters, theme parks, and cruise lines, casting a pall on Disney's future. Iger engineered the company's comeback, slashing $5.5 billion in spending and positioning Disney for future success.

D'Amaro has his work cut out for him. Disney's broadcast media business has been in secular decline for years, and the blue chip stock has been stuck in neutral and is essentially flat over the past three years. Investors will be watching closely to see whether D'Amaro can replicate his success at the Experiences segment across the House of Mouse.

Danny Vena, CPA has positions in Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool has a disclosure policy.