The Walt Disney Co. announced Tuesday that Josh D’Amaro, who oversees the company’s theme parks and resorts, will take over as chief executive when Bob Iger steps down in March.

D’Amaro, 54, will assume the role on March 18 after the board voted unanimously for his appointment. He succeeds Iger, whose leadership spans nearly 20 years over two terms at the entertainment giant.

"Josh D'Amaro possesses that rare combination of inspiring leadership and innovation, a keen eye for strategic growth opportunities, and a deep passion for the Disney brand," board chairman James Gorman said.

A Disney employee for 28 years, D’Amaro runs the company’s biggest revenue driver, which brought in $36 billion in fiscal 2025 and employs about 185,000 workers worldwide across theme parks and resort hotels. His tenure includes major projects such as “Star Wars: Galaxy’s Edge,” a planned theme park in Abu Dhabi, and a partnership with Epic Games to integrate Disney content into Fortnite.

Iger said D’Amaro has an "instinctive appreciation of the Disney brand, and a deep understanding of what resonates with our audiences."

The company also announced that Dana Walden, co-chair of Disney Entertainment, will become president and chief creative officer, a newly created post reporting directly to D’Amaro and overseeing creative operations across Disney.

Iger will stay on as a senior adviser until December 2026 before fully retiring, the company said.

Under Iger, Disney completed major acquisitions including Pixar, Marvel, Lucasfilm and 21st Century Fox, expanded globally with the opening of Shanghai Disney Resort, and launched its Disney+ and ESPN+ streaming platforms.

After leaving the CEO post in 2020, Iger returned in 2022 following the dismissal of Bob Chapek, guiding the company through restructuring, cost cuts, and layoffs as Disney navigated streaming losses and industry shifts.

D’Amaro’s appointment comes as Disney continues to face pressure in traditional media and streaming while pursuing profitability, global expansion, and new initiatives such as generative artificial intelligence.