Josh D'Amaro officially became Disney's Chief Executive Officer today, making his first appearance in the role at the company's Annual Shareholder Meeting.
D'Amaro took over from Bob Iger as CEO at the meeting, completing a leadership transition announced on February 3. He delivered pre-recorded remarks standing next to the old animation building on the Disney lot where Walt Disney and his team created some of the company's most beloved stories.
"As I officially step into this role with an incredible team at my side, I'm truly excited about the road ahead, and I have absolute confidence in our ability to deliver high quality, experiential storytelling that stands head and shoulders above the rest," D'Amaro said.
He used the shareholder address to announce the name of Disney Cruise Line's ninth ship and outline expansion plans across the company.
Thanking Bob Iger
D'Amaro opened his remarks by thanking Iger for his leadership and mentorship.
"Bob, on behalf of our employees, cast members, shareholders and fans around the world, thank you so much for your tremendous leadership, your steadfast support and your countless contributions to The Walt Disney Company," D'Amaro said. "You set an incredible example for all of us, and personally, I can't thank you enough for your mentorship and friendship through the years. You will be missed."
D'Amaro credited Iger for positioning Disney for future growth.
"When Bob returned to the company a few years ago, his goal was to fortify our business and lay the groundwork for long term growth, by reigniting creativity and improving performance at our studios, building a robust and profitable streaming business, transforming ESPN for a digital future, and turbocharging our parks and experiences," D'Amaro said.
"We've accomplished all of those things, and we're operating from a place of strength with ample opportunity for growth," he added.
Iger will continue as Senior Advisor and Board member until his retirement on December 31, 2026.
Personal Connection to Disney
D'Amaro shared his childhood connection to the company, emphasizing how deeply he understands Disney's impact on families.
"Like so many of you, my connection to Disney goes back to my childhood long before I began my career here," he said. "I grew up in a Disney family. We watched the Wonderful World of Disney on Sunday nights. I was 10 years old when my family visited Disneyland for the first time."
He delivered his remarks standing next to the animation building where Walt Disney worked.
"I'm deeply honored and profoundly grateful for the opportunity to lead this remarkable company," D'Amaro said.
Disney Believe Announcement
D'Amaro announced the name of Disney Cruise Line's ninth ship during his shareholder address.
"Today, I'm excited to announce the name of our ninth ship, the Disney Believe," he said.
Disney Cruise Line is expanding its fleet from three ships to 13 ships by 2031. The company has five more ships on the way following Disney Believe.
D'Amaro recently visited Singapore for the launch of Disney Adventure, the cruise line's eighth ship and first based in Asia.
"It is stunning, and I'm so excited for our guests to experience it," D'Amaro said of the Singapore ship.
Parks Expansion Updates
D'Amaro outlined ongoing expansion across Disney's parks and experiences division, the segment he led before becoming CEO.
"Later this month, we'll unveil a new Frozen land in Paris," D'Amaro said, referring to the World of Frozen expansion at Disneyland Paris.
He detailed additional projects: "We're doubling the size of Avengers Campus at Disney California Adventure, building a Villains land at Magic Kingdom, and planning our first new park in a decade in a brand new corner of the world."
The new park is Disney's Abu Dhabi location, announced in partnership with Miral.
"All around the world, we're building new adventures and expanding capacity to welcome more families into our uniquely Disney experiences, driven by the largest capital investment plan in Disney Experiences history," D'Amaro said.
Vision for Disney's Future
D'Amaro described Disney's competitive position as unique in the entertainment industry.
"While others in our industry are consolidating just to compete, are struggling to be relevant in a fragmented and disrupted world, Disney's in a category of one, poised to accelerate into our next era of innovation and growth," he said.
He attributed this advantage to integration across Disney's businesses.
"All of our businesses reinforce and amplify one another. At the center of The Walt Disney Company is an extraordinary connection we have with our fans, a relationship built over generations through the stories and characters that people carry with them throughout their lives," D'Amaro said.
"No one else has the ability to do this at the scale, quality and global reach that Disney can," he added.
Technology as Strategic Priority
D'Amaro emphasized technology's role in Disney's future, consistent with themes from his official CEO biography and Cast Member memo.
"Technology acts as an amplifier for our stories, our experiences and the emotional connection audiences have with our brand," he said.
He highlighted the Epic Games partnership.
"That's why we've partnered with Epic Games to bring a transformative new entertainment experience to Fortnite and connect it to our broader ecosystem," D'Amaro said. "I just reviewed some of the progress on the worlds that we're building, and I was blown away by the possibilities."
D'Amaro framed technology as an enabler of creativity.
"We'll continue to develop and embrace new technologies to empower our storytellers, but never at the expense of our characters and worlds, our creative partners or the trust people place in us, because Disney at its core is a company that celebrates human creativity," he said.
People as Foundation
D'Amaro emphasized Disney's employees as the company's strength, quoting Walt Disney.
He referenced a door on Main Street in Disneyland labeled "casting agency" that displays a Walt Disney quote.
"It says it takes people to make the dream a reality. This couldn't be more true for a company like ours," D'Amaro said. "We have the most creative, most passionate, dedicated people, and it's because of our people that will continue to create stories and experiences that our fans carry with them for a lifetime."
This people-first message echoed his Cast Member memo from earlier today, where he wrote: "Disney's strength has always come from our people and the creative excellence that defines our stories and experiences."
Community Impact
D'Amaro highlighted Disney's community work, particularly with Make-A-Wish.
"Disney is the largest wish granter in the world, granting a wish every hour of every single day," he said. "Our stories bring joy and hope and inspiration to millions around the world, and that's a privilege that we take very seriously."
He also mentioned work with children's hospitals, veterans and military families, and community organizations.
First Day as CEO
Today marks the culmination of a leadership transition process that began in January 2023 when Disney's Board formed a Succession Planning Committee.
The Disney Board of Directors unanimously elected D'Amaro as CEO on February 3. The Board will appoint him as a director immediately following today's Annual Meeting.
D'Amaro, 54, has spent 28 years with Disney. He joined the company in 1998 at Disneyland Resort and became Chairman of Disney Experiences in 2020 after serving as President of Walt Disney World Resort.
Message to Shareholders and Fans
D'Amaro concluded his shareholder address with thanks to fans and investors.
"As some of you may know, I love talking to guests and fans and hearing all of your stories, whether you love our movies, shows, parks, ships, games, books, music, the list goes on and on," D'Amaro said. "You are the reason that we do what we do."
"To our shareholders, on behalf of everyone at Disney, thank you for joining us today, and thank you for your continued belief and investment in this one of a kind company," he added.
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