Josh D'Amaro Takes Over as Disney CEO Amid Streaming Evolution and Iger’s Legacy Ends

The Walt Disney Company ushered in a new era at its 2026 virtual shareholders meeting Wednesday as Bob Iger, who had led the media giant through nearly two decades across two non-consecutive stints as CEO, formally passed the reins to his successor, Josh D’Amaro. The transition marked the culmination of a years-long succession plan and a dramatic turnaround for Disney, which had seen investor confidence plummet under Iger’s short-lived successor Bob Chapek before the legendary executive returned in late 2022 to steady the ship. In a prerecorded farewell address and live investor interactions, Iger praised D’Amaro’s leadership and incoming chief creative officer Dana Walden, while D’Amaro unveiled aggressive plans to consolidate Disney’s streaming platforms and position Disney+ as the ‘digital centerpiece’ of the company’s future growth strategy.

The End of an Era: Iger’s Farewell and a Pivotal Transition

Bob Iger’s second tenure as Disney CEO concluded on a reflective note during the company’s 2026 shareholders meeting, which was held virtually due to ongoing public health considerations. Dressed in a dark suit against a neutral backdrop, Iger delivered a prerecorded farewell address that traced his improbable journey from a young ABC employee in New York City in 1974 to the helm of one of the world’s most iconic entertainment companies. ‘I never dreamed I would end up as CEO of the Walt Disney Company,’ Iger admitted, his voice steady but tinged with emotion. ‘When I first became CEO in 2005, what I couldn’t have fully known then was how meaningful this journey would become.’

From Return to Reinvention: Iger’s Second Act

Iger’s first retirement came at the end of 2021 following 15 years as CEO, a period that included the acquisition of Pixar, Marvel, Lucasfilm, and 21st Century Fox. However, his successor Bob Chapek, a 30-year Disney veteran, struggled to maintain the company’s momentum amid pandemic disruptions, investor skepticism over streaming losses, and a contentious Florida legislative battle. In November 2022, the Disney board ousted Chapek and brought Iger back as CEO with a mandate to restore stability and refocus on creativity. During Wednesday’s meeting, Iger reflected on the turnaround: ‘When I returned in 2022, people had lost confidence in this company.’ By 2026, he told shareholders, ‘I believe deeply in this company’s future, because I believe in Josh D’Amaro’ and his executive team.

A Legacy Built on Storytelling and Strategic Reinvention

Iger’s leadership was defined by transformational acquisitions that reshaped Hollywood—bringing Pixar’s animation genius, Marvel’s comic book universe, George Lucas’s cinematic legacy, and 21st Century Fox’s vast IP library under the Disney umbrella. Yet his tenure was not without controversy, including labor disputes, the contentious acquisition of 21st Century Fox at a $71 billion price tag, and criticism over executive compensation. Despite these challenges, Iger’s influence extended beyond the boardroom. In his farewell remarks, he emphasized his belief that ‘leaders don’t create the magic’ but rather support the artists and storytellers who do. ‘My greatest privilege has been to support that talent,’ he said. Iger also singled out Dana Walden, who in 2026 was appointed Disney’s first chief creative officer, as pivotal to the company’s future. ‘She will play a vital role in focusing on our most critical endeavor,’ Iger noted, ‘which is storytelling.’

I’ve always believed that leaders don’t create the magic,” Iger said during his farewell address. “My greatest privilege has been to support that talent.”

Josh D'Amaro’s Vision: Disney+ as the Digital Heart of the Company

Josh D’Amaro, who had previously overseen Disney’s Parks, Experiences and Products division, assumed the CEO role with a clear mandate: accelerate Disney’s digital transformation while preserving its legacy of storytelling. In his first public remarks as CEO at the shareholders meeting, D’Amaro outlined a bold vision for Disney+, positioning it not merely as a streaming service but as the ‘digital centerpiece’ of the company—a portal that would ‘connect our stories, experiences, games, films and more in entirely new ways.’ This strategic pivot reflects the broader industry trend toward consolidation in the streaming wars, as competitors like Warner Bros. Discovery face pressure from declining subscriber growth and rising content costs. Earlier that morning, D’Amaro sent a company-wide memo emphasizing that ‘great storytelling and creative excellence will remain our North Star,’ signaling a continued focus on high-quality content even as the company scales its digital platforms.

Streaming Consolidation: Merging Disney+ and Hulu into a Unified Experience

One of D’Amaro’s top priorities is the planned integration of Disney+ and Hulu into a single streaming platform later in 2026, a move designed to reduce operational complexity, improve profitability, and enhance the user experience. ‘We’re working quickly to bring Disney+ and Hulu into a unified experience later this year,’ D’Amaro told investors. ‘This will drive even more value for subscribers and for our business.’ The consolidation follows a broader industry shift toward platform aggregation, as seen in the recent merger of Warner Bros. Discovery’s Max and Discovery+, and responds to investor calls for Disney to improve margins in its direct-to-consumer segment. D’Amaro also highlighted the complementary role of ESPN Unlimited, the standalone streaming service launched in summer 2025 that bundles ESPN’s linear and digital networks into a single subscription. ‘When you add ESPN to the mix,’ he said, ‘it becomes a grand slam for consumers.’

The One Disney Strategy: Integrating Content, Parks, and Products

D’Amaro’s leadership philosophy is rooted in what he calls the ‘One Disney’ strategy—a commitment to breaking down silos between the company’s divisions to create a seamless ecosystem of entertainment and experiences. He cited the Toy Story franchise as a prime example of this integrated approach: characters born in a 1995 Pixar film now permeate virtually every corner of Disney’s business, from Disney+ and consumer products to theme parks, cruise ships, and hotels. ‘Toy Story changed moviegoing forever with the first CG-animated feature,’ D’Amaro noted. ‘Today, those characters live everywhere our audiences do.’ This cross-platform synergy extends to upcoming projects, including Toy Story 5, slated for a June 2026 theatrical release, which will further expand the franchise into parks and merchandise. Adding to Disney’s growth pipeline, D’Amaro announced the name of the next Disney Cruise Line ship: the Disney Believe, set to debut in late 2027. The vessel’s name, he said, honors ‘the dreamers and doers who dare to pursue their own happily ever after.’

Leadership Team and Governance: A Smooth Transition Plan

To ensure continuity, Iger will remain with Disney through the end of 2026 as a senior adviser to D’Amaro, a role that allows the outgoing CEO to mentor his successor while maintaining a smooth leadership transition. The arrangement also underscores Disney’s confidence in D’Amaro’s readiness to lead. Notably, both Iger (75) and D’Amaro (55) share the same birthday—February 10—adding a symbolic touch to the handoff. At the shareholders meeting, Iger was reelected to Disney’s board for a one-year term, joining chairman James Gorman and newly appointed director Jeff Williams, former COO of Apple, whose tech expertise is expected to help guide Disney’s digital transformation. Shareholders also approved Disney’s executive compensation plan in an advisory vote, signaling broad support for the company’s strategic direction under D’Amaro.

• Bob Iger concluded a nearly 20-year tenure as Disney CEO, passing leadership to Josh D’Amaro at the 2026 virtual shareholders meeting.
• D’Amaro outlined a strategy to make Disney+ the central hub for the company’s digital growth, including a planned 2026 merger with Hulu.
• Dana Walden was named Disney’s first chief creative officer, signaling a renewed focus on storytelling under D’Amaro’s leadership.
• Iger will serve as a senior adviser through 2026, ensuring a smooth transition as Disney accelerates its streaming and digital initiatives.

Industry Context: Disney in a Consolidation Era

The leadership transition at Disney occurs against a backdrop of significant consolidation in the global media and entertainment industry. In 2024, Warner Bros. Discovery faced pressure from activist investors and declining stock performance, leading to reports of a potential takeover by Paramount Global. That deal fell through, but was followed by the announcement in early 2026 of a merger between Paramount Global and Skydance Media, creating a new media giant poised to challenge Disney’s dominance. D’Amaro acknowledged this competitive landscape during the shareholders meeting, stating that while other companies are ‘consolidating just to compete or struggling to be relevant in a fragmented and disrupted world,’ Disney is ‘in a category of one.’ He emphasized the company’s strength in storytelling, technology, and cross-platform integration as key differentiators. ‘This next chapter will be driven by staying focused on world-class creativity, enhanced by technology, bringing unforgettable stories to audiences wherever they are,’ he said.

Cultural and Creative Continuity Under New Leadership

D’Amaro’s appointment reflects Disney’s commitment to maintaining its creative identity while navigating the challenges of the streaming era. By elevating Dana Walden to the newly created role of chief creative officer—reporting directly to D’Amaro—the company has signaled that storytelling remains its top priority. Walden, a 25-year Disney veteran who previously led the company’s television studios, is expected to oversee a slate of high-profile film and television projects, including sequels, spin-offs, and original series across Disney+, Hulu, and ABC. Her appointment also reflects a broader industry trend toward elevating creative executives to executive committee roles, a response to investor demands for more accountability and transparency in content strategy. In his farewell remarks, Iger emphasized Walden’s importance: ‘She will play a vital role in focusing on our most critical endeavor,’ he said, ‘which is storytelling.’