The Walt Disney Company announced that Josh D’Amaro, chairman of Disney Experiences, will become its new chief executive officer, succeeding Bob Iger effective March 18. Iger will remain as a senior adviser and a member of Disney’s board until his retirement at the end of the year, marking a carefully planned leadership transition at one of the world’s most influential media and entertainment companies.

The appointment closes a long and closely watched succession process, the second in six years for Disney. The company’s previous transition to Bob Chapek ended in turmoil, prompting Iger’s return in 2022. This time, the board, led by chairman James Gorman, carried out an extensive search that included multiple internal candidates before selecting D’Amaro.

In a statement, Iger praised his successor, saying D’Amaro has “an instinctive appreciation of the Disney brand” and a deep understanding of what resonates with audiences, combined with strong operational discipline. He highlighted D’Amaro’s ability to blend creativity with execution as a key reason for the choice.

Alongside the announcement, Disney said Dana Walden will become president and chief creative officer, reporting directly to D’Amaro starting March 18. In her new role, Walden will oversee the company’s storytelling and content strategy, reinforcing creativity as the core of Disney’s business model.

D’Amaro takes over at a time of mixed signals from Wall Street, despite Disney recently posting quarterly results that beat expectations, driven by strong performance in theme parks and streaming. The Experiences division surpassed $10 billion in quarterly revenue for the first time, underlining the strategic importance of the unit D’Amaro has led.

Looking ahead, Disney is investing heavily in its parks and experiences, including plans for a new resort in Abu Dhabi and a $60 billion investment program over the next decade, while continuing to reshape its entertainment and streaming operations. Steering the company through this next phase will now be the central task for Disney’s new CEO.