Longtime Leader Departs Nine Months Early to Facilitate Smooth Transition; Parks Veteran D'Amaro Assumes CEO Role as Company Navigates Streaming, Parks, and Creative Challenges

March 18, 2026 | BURBANK, Calif. — The Walt Disney Company marked the end of an era today as CEO Bob Iger officially stepped down from his role, handing the reins to Josh D'Amaro, chairman of Disney Experiences, effective immediately following the company's annual shareholders meeting.

Iger, 74, who first joined Disney in 1996 and served as CEO from 2005 to 2020 before returning in 2022, will retire fully from the company on December 31, 2026. He will remain on the board and serve as a senior strategic advisor through year-end to support the transition. The move comes more than nine months ahead of the original expiration of his contract, a decision framed by Disney Chairman James Gorman as a reflection of Iger's commitment to the company's long-term success over personal tenure.

"Bob Iger loves Disney even more than he loves being its CEO," Gorman said in a statement read during the virtual shareholder meeting. "This transition allows us to position the company for its next chapter while ensuring continuity and stability."

D'Amaro, a 28-year Disney veteran who has overseen the company's theme parks, resorts, and consumer products division, was unanimously selected by the board as Iger's successor. In his first remarks as CEO, D'Amaro emphasized his deep roots in the company and focus on creativity, operational excellence, and guest experience.

"I am honored and humbled to lead The Walt Disney Company at this pivotal moment," D'Amaro said. "Under Bob's guidance, Disney has never been stronger creatively or more resilient. My priority will be building on that foundation—delivering magical experiences for our guests, groundbreaking storytelling across all platforms, and sustainable growth for our shareholders."

The announcement caps a closely watched succession process that began in earnest after Iger's return to stabilize the company following the brief and turbulent tenure of his predecessor, Bob Chapek. Analysts and investors largely welcomed the orderly handover, with shares showing modest gains in after-hours trading amid broader market conditions.

Dana Walden, co-chairman of Disney Entertainment, was elevated to president and chief creative officer in a newly created enterprise-wide role. She will oversee storytelling and creative strategy across film, television, streaming, and other divisions, reporting directly to D'Amaro.

Iger's second stint as CEO saw Disney navigate post-pandemic recovery, streaming wars with Disney+, significant cost-cutting measures, and high-profile acquisitions' integration, including the full ownership of Hulu. Supporters credit him with transformative deals like the purchases of Pixar, Marvel, Lucasfilm, and 21st Century Fox, which expanded Disney's intellectual property empire. Critics have pointed to challenges in streaming profitability, box-office fluctuations, and cultural controversies during his leadership.

The transition occurs as Disney faces ongoing industry headwinds, including competition in streaming, evolving consumer habits, and economic pressures on theme parks and theatrical releases. D'Amaro's parks background is seen by many as a strategic fit, given the division's consistent profitability and role as a core revenue driver.

In a memo to employees, Iger reflected on his tenure: "Disney's future has never been brighter. I've been privileged to lead this extraordinary company through extraordinary times, and I leave it in exceptionally capable hands."

Disney has not named a replacement for D'Amaro in the Experiences division, though internal promotions are expected soon. The company reiterated its commitment to innovation, storytelling, and shareholder value under the new leadership structure.