Disney board close to appointing Josh D’Amaro as next CEO, Bloomberg News reports

CALIFORNIA: Disney’s board is circling a decision that could redraw the company’s future. Josh D’Amaro, the parks chief who runs Disney’s global resorts empire, is close to being elevated to chief executive, according to Bloomberg News.

Citing people familiar with the matter, Bloomberg reported that directors are preparing to vote on the new boss as early as next week. Reuters could not immediately verify the report. Disney did not respond to a request for comment.

The choice comes after years of messy succession drama at the media giant. Investors have kept a wary eye on leadership planning since Bob Iger delayed retirement multiple times, then returned in 2022 to replace his own successor, Bob Chapek, when the pandemic battered Disney’s business.

D’Amaro, chairman of Disney experiences, oversees parks and resort hotels across the United States, Europe and Asia, operations that form Disney’s most powerful revenue engine. Reuters had earlier flagged him as a contender with Iger-like charisma and operational heft.

Still, Disney publicly projects caution. “The board has not yet selected the next CEO of the Walt Disney Co. and once that decision is made, we will announce it,” a Disney spokesperson said in an emailed statement cited by Bloomberg.

The Wall Street Journal reported last month that Iger has told associates he intends to step down and retreat from daily management before his contract ends on December 31. The newspaper also said the board plans to meet next week at headquarters in Burbank, California, where a vote on Iger’s replacement is expected.

Disney had already signalled the clock was ticking. In 2024 it said a successor would be named in early 2026, the first time the company had put a formal timeline on the handover.

Now the endgame looks near. After years of false starts and boardroom intrigue, the magic kingdom may finally be choosing its next ringmaster. Whether that restores investor faith or simply opens a new chapter in Disney’s long-running succession soap opera will soon be clear.