Disney’s CEO Succession Race Heats Up
The competition for the top leadership position at Disney has intensified, particularly after CEO Bob Iger’s tenure. Observers, both within the company and in the broader industry, are closely watching the head of the Theme Parks division.
In recent months, Josh D’Amaro, currently President of the Disney Experience, has emerged as a significant contender. A report from Bloomberg News highlights his rising visibility and influence, suggesting a notable rivalry with Dana Walden, co-chair of Disney Entertainment.
The evolving dynamics of this two-person race have become apparent. Insider insights suggest that D’Amaro has captured the attention of many during this internal competition. Meanwhile, Walden’s recent decisions, including the suspension of late-night host Jimmy Kimmel following controversial remarks involving political figures, might have hampered her position.
It’s worth noting that no connection has been established between the individual involved in the Kimmel incident and the political movement mentioned. Shareholders expressed concerns about the implications of Kimmel’s comments, viewing them as a potential breach of the company’s fiduciary responsibilities.
Since returning to the CEO role in late 2022 after a challenging period under Bob Chapek, Iger has announced plans to step down, with the board already extending his contract into early 2026. This has narrowed the succession to four names: D’Amaro, Walden, ESPN head Jimmy Pitaro, and Alan Bergman, who is also co-chair of Disney Entertainment. However, insiders consider Pitaro and Bergman to be less likely candidates at this point.
Recent conversations around D’Amaro’s prospects have gained momentum. During a breakfast in Santa Monica, Iger reportedly reacted strongly when an aide suggested D’Amaro would succeed him, indicating that the board hasn’t yet made a decision on the next CEO.
Since 2020, D’Amaro’s influence has grown, largely thanks to the positive financial performance of his division, which encompasses theme parks, cruise lines, and consumer products. This segment has proven to be Disney’s most profitable, generating significant annual sales growth even post-pandemic, despite ongoing concerns about affordability for middle-class families.
In the first nine months of the 2025 fiscal year, D’Amaro’s division recorded profits of $8.12 billion, representing about a third of Disney’s overall financial picture amidst struggles in other areas like TV and film.
The parks have been financially successful, but rising ticket and related costs have drawn criticism from long-time Disney fans. With prices now soaring to between $104 and $206 for admission, coupled with high food and parking expenses, the situation is becoming more complicated.
As Disney plans to invest up to $60 billion over the next decade—expanding resorts, adding attractions, and launching new cruise ships—D’Amaro also oversees a $1.5 billion stake in Epic Games, known for creating “Fortnite.”
With a lengthy tenure at Disney, D’Amaro is familiar with the company culture, while Walden joined only in 2019 after the acquisition of FOX. Although D’Amaro hasn’t directly managed the film and television arms, he maintains strong relationships across Disney’s leadership.
At a recent retreat in Florida, D’Amaro highlighted his vision for Disney’s future, which resonated with many attendees. In an offhand moment, he even joked about a surprise loss during a friendly game with colleagues from the film studios.
