"After a decade of ups and downs, Disney is picking a familiar, friendly face at the heart of its profit engine to lead the company into a new era. Disney's board just tapped Parks boss Josh D'Amaro to take over for longtime CEO Bob Iger, starting on March 18. Iger, who plans to retire as CEO for the second time, will remain in an advisor role before stepping aside for good later this year."
"Disney's new CEO has his work cut out for him. The Mouse House's stock has only mustered an 11% gain in the last decade, compared to a more than threefold increase for the S&P 500. And while Disney's parks are gushing cash, the streaming business isn't yet making enough money to offset the steady erosion of the company's ever-fading cable networks."
"Not only is D'Amaro intimately familiar with the company's most lucrative business, but he also seems to have the charm and leadership acumen needed to lead a juggernaut like Disney. That's in contrast to former CEO Bob Chapek, who took over after Iger's first retirement and was known as a gruff, business-minded executive who lacked Iger's high level of charisma."
Josh D'Amaro will become Disney's CEO on March 18, replacing Bob Iger, who will retire as CEO for the second time and remain an advisor until later in the year. D'Amaro has led Disney's parks, the company's most reliable profit engine, which currently produces strong cash flow while streaming struggles to offset declining cable revenues. Disney's stock has underperformed the S&P 500 over the past decade. D'Amaro is seen as a familiar, charismatic leader who offers stability and consensus, contrasting with his predecessor Bob Chapek. D'Amaro will face challenges overseeing other businesses and navigating major changes such as AI.
Read at Business Insider
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