Josh D’Amaro and Dana Walden addressed staff in their first employee town hall on Wednesday since being named CEO and president and chief creative officer, respectively.
“There are very few brands in the world that are 100 years old and still as meaningful and impactful as The Walt Disney Company,” D’Amaro said. “We are 100 years old, but we’re 100 years young as well, willing to embrace new technology, new creators, and new markets. That willingness to change and take risks is what keeps the brand going, and it’s something I intend to continue to push on.”
He added that Disney is “sitting in a place where we have a really good hand and a really solid foundation,” touting a profitable streaming business with growing margins, the successful launch of ESPN’s direct-to-consumer service, movies that are “performing at the highest level” and the company’s $60 billion investment in its Experiences business through 2030, including plans to open a new theme park in Abu Dhabi.
“Inside each of our strategic priorities, there is huge opportunity for growth,” D’Amaro said.
D’Amaro praised Walden’s wealth of experience in Hollywood, television and creativity.
“She’s incredibly creative, incredibly connected with her team, quick to make decisions and engaged all the time,” he said. “She’s a good person, and I think that partnership is only going to grow stronger.”
Walden similarly shared a personal story illustrating witnessing D’Amaro’s leadership instincts firsthand.
“We were at Walt Disney World, and it started pouring rain. We came across a little boy who had been separated from his family and was sobbing. I watched Josh in action. It was as if he didn’t have to think about it. He moved quickly, calmly, and with so much care,” she said. “The team reunited the child with his family so fast, and watching Josh in that moment spoke volumes. He cares deeply about every person who walks into our parks. He cares about people.”
D’Amaro and Walden’s promotions come after a years-long search process led by the Disney board’s succession planning committee, which includes chairman James Gorman, who led his own search for a successor after an 18-year run as Morgan Stanley’s CEO, and directors Mary Barra, Jeremy Darroch and Calvin McDonald.
In addition to D’Amaro and Walden, other internal candidates considered for the top job included Disney Entertainment co-chair Alan Bergman and ESPN chairman Jimmy Pitaro.
“To be invited into a room two days ago and have Bob and James Gorman on the other side of the door asking me to be CEO, it’s surreal. A lot goes through your head in that moment,” D’Amaro said. “I got a little embarrassed. I got a little choked up when they let me know, because it’s a big responsibility. Of course, I want to make Bob proud.”
“I believe in the future,” he continued. “I’m so optimistic about where this company can go, and I feel like my experiences over those 30 years have set me up well to hold on to the beautiful legacy of this company and push us into this bold future.”
Walden said she’s spent her entire career working in storytelling with great creators and delivering stories that people love and that getting the opportunity to work at “probably the best storytelling company in the history of business” is “incredibly meaningful.”
“I came to Disney because I wanted to work with Bob Iger. I wanted to learn from him. His ability to hold a high bar for quality while nurturing the creative process is extraordinary,” she added. “It’s been an amazing opportunity, and I’m so grateful I made that decision.”
Iger, who joined D’Amaro and Walden for the town hall, said the former has an “acute appreciation of what this company means to the world” as well as a “tremendous energy, great curiosity, great EQ, and a deep respect for creativity and creators.”
“It’s not just a company, it’s a cultural institution. It occupies a place in people’s lives and hearts that’s just different,” Iger said. “Almost every transaction that takes place at this company emanates from someone’s great creativity, and Josh understands that.”
He also said that creativity drives everything Disney does and that Walden has “demonstrated for years that she respects the creative process and respects creators.”
“This is a great role for the company and a perfect role for Dana,” he added.
Iger returned to Disney as CEO in November 2022 following the disastrous ouster of his successor-turned-predecessor Bob Chapek.
Prior to handing off the reins to Chapek, Iger served as Disney’s CEO for 15 years from 2005 to 2020, during which time he oversaw the acquisitions of Pixar, Marvel Studios, Lucasfilm and 21st Century Fox. Iger has famously been a well-liked CEO, delaying his departure date multiple times.
During the town hall, he emphasized that the latest CEO transition “represents progress and change, which is critical,” and is the result of a “very healthy process.”
“Closure is wonderful, and to be able to hand this job and this company over to someone that I’ve grown to like and respect and appreciate over the years is a great feeling,” Iger said. “I feel great about this process. I feel great about the choices. I leave with a tremendous sense of confidence in both Josh and Dana and optimism about the future of this company. The board was left with some great options. The great news about it was the board had great choices.”
Iger, who will remain a senior advisor and board member through the expiration of his contract at the end of 2026, added that he’s leaving with a “tremendous sense of confidence in the hands I’ve left this company in.”
“It’s liberating, energizing and exhilarating to know the company is in such capable hands,” he said.
D’Amaro and Walden will officially take over the reins following Disney’s annual shareholder meeting on March 18. D’Amaro is expected to serve as a director on the board and member of the executive committee.
