Disney names parks and cruises boss Josh D'Amaro as next CEO

Core Insights - Disney has appointed Josh D'Amaro as its new CEO, concluding a troubled succession process following Bob Iger's return to the company after Bob Chapek's dismissal [1][2] Group 1: Leadership Transition - D'Amaro has been the chairman of Disney's experiences since 2020, overseeing theme parks and cruise ships, similar to Chapek's previous role [2][3] - Bob Iger praised D'Amaro as "an exceptional leader" and the right choice for the CEO position [2][7] - D'Amaro will officially assume the CEO role in March, with Dana Walden becoming president and chief creative officer [3] Group 2: Company Overview - Disney is valued at $185 billion and is a major player in the media and entertainment industry, having acquired significant franchises like Pixar, Marvel, and Lucasfilm under Iger's leadership [3] - The company has a vast tourism business centered around its resorts and cruise ships, along with a large digital media segment [3] Group 3: Financial Performance - Disney+ reported increased profits from its streaming services, including Disney+, Hulu, and ESPN, but raised concerns about "headwinds" affecting international visitors to its US theme parks [4] - The entertainment division's earnings declined due to heavy spending on marketing for films like Zootopia 2 and Avatar: Fire and Ash [4] Group 4: D'Amaro's Vision - D'Amaro expressed gratitude for the opportunity to lead Disney and emphasized the importance of the company's people and creative excellence [5] - He highlighted the potential for Disney to achieve great things and his commitment to honoring the company's legacy while driving innovation and value for consumers and shareholders [6]