Disney Chairman James Gorman Rejects “Amateur” Parks Narrative Over Josh D’Amaro’s CEO Appointment. The Walt Disney Company has officially named Josh D’Amaro as its next Chief Executive Officer, ending a high-stakes search to find a successor for Bob Iger. The decision, reached via a unanimous vote by the Board of Directors, will see D’Amaro take the helm on March 18, 2026.
Following the announcement, Disney Board Chairman James Gorman, who led the Succession Planning Committee, addressed speculation that D’Amaro’s selection signals a pivot toward prioritizing theme parks and cruises over traditional media.
Debunking the “Amateur’s Narrative” on Disney Parks
When asked by Variety if the board sees future growth primarily coming from the Experiences segment, which is D’Amaro’s current domain, Gorman was blunt.
“I would say that is the amateur’s narrative,” Gorman said. “My goodness, look at the entertainment businesses.” He pointed to the recent success of Disney’s film division, noting seven studios under Alan Bergman’s leadership produced six billion-dollar movies in just two years.
Gorman emphasized that while the parks and cruises are vital, the “other half” of the company—comprised of Disney Entertainment, ABC, ESPN, and a now-profitable streaming platform—remains equally central to the board’s strategy. “No, this is the board saying that we were looking for the leader to run the whole company,” Gorman clarified. He predicted the company’s future balance would remain “roughly 50-50” between parks/cruises and the rest of the enterprise.
“There’s been a lot of commentary that this decision, leaning on Josh with his deep background in parks and experiences, that the Disney board sees the future growth as coming from Parks, Experiences, cruises. Is that accurate?” Variety – Cynthia Littleton
I would say that is the amateur’s narrative. My goodness, look at the entertainment businesses. We’ve got seven studios in the last two years under Alan’s leadership. They produced six billion-dollar movies. We have the ABC linear channel. We’ve got ESPN, a streaming platform that is now solidly profitable and continues to expand its margins. These are huge businesses — that’s half the company. Basically, entertainment plus ESPN together all together would be half the company. So no, this is the board saying that we were looking for the leader to run the whole company. But we love the businesses that make up this company. And I think for many years from now, you’ll see roughly 50-50 between parks and cruises and the rest of the company.” James Gorman – Chairman The Walt Disney Company
Meet the Leaders
The transition marks a new era for Disney, led by two men with vastly different backgrounds but a shared mandate for stability.
Josh D’Amaro, 54, is a 28-year Disney veteran who has held leadership roles across almost every facet of the company’s physical operations.
- Early Career: Joined Disney in 1998 at the Disneyland Resort after a stint at Gillette.
- The Ascent: Served as President of Disneyland Resort and later President of Walt Disney World Resort, where he became known for his “rockstar” persona and visibility among cast members.
- The Chairman Era: Since 2020, he has served as Chairman of Disney Experiences, overseeing 12 theme parks, the Disney Cruise Line, and consumer products.
- The Mandate: D’Amaro is credited with navigating the parks through the COVID-19 pandemic and spearheading a massive $60 billion investment plan for the segment.
James Gorman, 67, joined Disney’s board in 2023 and became Chairman in early 2025 specifically to oversee this transition.
- Wall Street Legacy: Best known as the former CEO and Chairman of Morgan Stanley, where he was praised for a “textbook” succession process that peacefully transitioned leadership to Ted Pick.
- Experience: A native of Melbourne, Australia, with a law degree and a Columbia MBA, Gorman has spent decades in top-tier finance and strategy, including roles at Merrill Lynch and McKinsey & Co.
- The Mandate: Gorman’s primary task at Disney was to bring rigor and objectivity to a search process that had previously been fraught with public setbacks.
The New Structure
Accompanying D’Amaro’s promotion, Dana Walden has been named President and Chief Creative Officer. Walden will report directly to D’Amaro, a move intended to ensure the company’s storytelling roots remain integrated with its operational future. Bob Iger will remain on the board and serve as a senior adviser through the end of 2026 to ensure a smooth handoff.
Disney Chairman James Gorman Rejects “Amateur” Parks Narrative Over Josh D’Amaro’s CEO Appointment
