Disney’s Succession Secret: Could Josh D’Amaro and Dana Walden Run the Kingdom Together? Big changes are coming to the House of Mouse. Disney has officially kicked off its high-stakes search for a successor to Bob Iger, and for theme park fans, the stakes couldn’t be higher. As Bob Iger prepares to step down, a new rumor is sweeping Burbank: a Co-CEO power duo. With Josh D’Amaro’s $60 billion park expansion on the line and Dana Walden’s Hollywood hits dominating the screen, could Disney be returning to a two-leader system?
With Iger’s contract set to expire in 2026, the Disney Board of Directors, now led by former Morgan Stanley chief James Gorman, is determined to avoid the “succession drama” of the past. The race has narrowed down to a real-life Game of Thrones, and two names have emerged as the clear frontrunners.
As we end 2025, DIS stock is trading at $113.56 as of December 28th. Both divisions we are discussing are leading the Walt Disney Company’s stocks higher. Disney Parks is the most profitable business at TWDC, while the Walt Disney Studios is the only studio to cross $6 billion at the Box Office in 2025.
Josh D’Amaro: The “Parks-First” CEO? Known for his high energy and approachable style, D’Amaro is often seen walking the parks and chatting with guests. A 28-year Disney veteran who worked his way up through the ranks. He runs the “Experiences” division, which is currently Disney’s biggest money-maker. A D’Amaro win would likely prioritize the $60 billion investment promised for park expansions over the next decade. Critics wonder if his deep roots in the parks give him enough experience to navigate the cutthroat world of Hollywood movie studios and streaming.
Dana Walden: The Hollywood Connection? Universally respected in Hollywood as a “creative-friendly” executive who knows how to pick hit shows. The Co-Chair of Disney Entertainment, who came over during the 21st Century Fox acquisition. She is often described as the candidate most like Bob Iger—a polished communicator with deep ties to stars and producers. Many believe her “ruthless” business acumen is exactly what Disney needs to win the streaming wars. Unlike D’Amaro, she hasn’t spent decades in the “Disney culture,” and some fans worry she might prioritize TV and movies over the theme park experience.
There is a growing whisper in Burbank about a “Co-CEO” structure. Similar to the legendary partnership of Michael Eisner and Frank Wells in the ’80s, Disney could appoint Walden to handle the Hollywood side while D’Amaro focuses on the global parks and cruises. This would allow Disney to keep both talented leaders without risking one of them leaving for a rival company.
The next CEO will hold the keys to the kingdom, literally. They will decide whether the budget goes toward more Avengers Campus expansions and Villains Lands, or toward securing the next big streaming blockbuster.
Disney plans to announce the winner by early 2026.
