Disney’s New CEO Arrives During Momentous Changes at ESPN

Disney is set to enter a critical new era as the ESPN parent company selected Josh D’Amaro, Disney Experiences chair, as its next CEO, succeeding Bob Iger.

D’Amaro, who oversaw Disney’s theme park business—which is the company’s largest segment and just posted record results—will take the reins on March 18 at Disney’s upcoming annual meeting. Iger’s contract runs through Dec. 31, but he previously signaled he would cede day-to-day leadership well before then.

The selection arrives after a succession process that stretched for nearly three years, and consistently favored internal candidates already within Disney. D’Amaro is a 26-year company veteran, holding a variety of leadership roles within the parks operation. 

“Throughout this search process, Josh has demonstrated a strong vision for the company’s future and a deep understanding of the creative spirit that makes Disney unique in an ever-changing marketplace,” said Disney board chair James Gorman. 

ESPN chairman Jimmy Pitaro had been seen early in the search as a strong candidate to succeed Iger, but more recently, his name had not circulated publicly nearly as much around the CEO job, and he repeatedly had said he was already in his “dream job” leading the sports media giant. 

Disney Entertainment co-chair Dana Walden, also seen as a leading candidate to succeed Iger, is being promoted effective March 18, and will become Disney’s president and chief creative officer. She will report to D’Amaro and will remain a central figure as Disney continues to navigate ongoing media disruption and an industry shift toward streaming.

This will be the second departure for Iger from the Disney CEO role. He originally stepped down in 2020 to clear the way for Bob Chapek, his appointed successor at the time, but he then returned in 2022 after the Disney board fired Chapek.  

ESPN Transitions 

The D’Amaro choice also arrives as ESPN is in the midst of large-scale change, with more shifts likely to arrive.

After debuting its direct-to-consumer service last summer, ESPN will also bring NFL Network programming into that product following last weekend’s closing of a roughly $3 billion deal with the NFL. The league is now a 10% equity holder in ESPN, suggesting an overall value of about $30 billion for the company. 

ESPN is also preparing for Super Bowl LXI next year in Los Angeles, the first to be aired by the network and a landmark event in its 46-year history. An elaborate handoff event is planned that will begin immediately after the conclusion of this Sunday’s Super Bowl LX. 

D’Amaro will also be directly involved in what will almost certainly be a renegotiation with the NFL on future live rights. The league has an upcoming opt-out in its contracts with its domestic rights holders, including ESPN, and remains firmly on the hunt to maximize both reach and revenue. After a recent NFL divisional playoff game posted the largest audience ever on ESPN, continuing to have live rights with the league holds even greater importance for the network’s future.