After 28 years climbing the ranks, Josh D’Amaro finally holds the Magic Kingdom’s keys. The former Experiences chief officially became Disney’sDIS

CEO on Wednesday, inheriting a strong operational foundation — and stronger investor skepticism. Despite recent momentum,DIS

is down 11% YTD, and markets await a shift from “survive” to “thrive.”

• D’Amaro transformed theme parks into Disney’s profit engine — now he must sustain momentum there and in streaming, Wall Street’s twin obsessions.
• With Iger advising through 2026, this marks his second CEO handoff in six years — the first, to Bob Chapek, ended in public drama and a rushed return just two years later.

Executive orders: The new CEO’s mandate targets evolving Disney beyond legacy media into a high-growth enterprise. That means deploying $60B across theme parks and cruises, partnering with Epic Games on a $1.5B “persistent universe,” and extracting more streaming revenue through ad growth and password crackdowns. Meanwhile, President Dana Walden inherits the messy job of reviving a film slate plagued by Marvel misfires and remake stumbles. After building the division that works, D’Amaro’s prize is to fix everything else. If he’s good, maybe they’ll freeze him into the Hall of Fame, too.