Disney has a new captain, and his eyes are on the stars.
Taking over the reins from Bob Iger on Wednesday, new chief executive Josh D’Amaro signaled a bold shift for the entertainment giant: a future where emotional storytelling remains the “North Star,” but cutting-edge technology provides the fuel.
From ESPN to the Magic Kingdom, D’Amaro said in his first letter to employees as the top boss that his mission is to turn a century of nostalgia into a more personal, high-tech reality for fans worldwide.
“Used thoughtfully, it can empower our storytellers, strengthen our capabilities, and help us create more immersive, interactive and personal ways for people to experience Disney,” he wrote in the Wednesday morning note.
D’Amaro also said he wants the sprawling company, which includes film and TV studios, a tourism division, streaming services and live sports programming, to operate as “one Disney,” saying the global businesses all play a role in deepening consumers’ relationship with the Mouse House.
That connection people have with Disney’s brand is key to the company’s future. Consumers have more film, TV and experiences to choose from than ever, meaning Disney needs to distinguish itself among competitors.
To do that, D’Amaro plans to focus on the emotions consumers feel when they encounter Disney. As an example, he reminisced about his own first visit to Disneyland more than 40 years ago.
He recalled the joy on his father’s face as the two rode Peter Pan’s Flight together. And when they soared over the miniature version of London on the ride, he remembered his father leaning in and saying, “See, I told you. It feels like we’re flying!”
“That feeling of flying I had on Peter Pan all those years ago is still real to me,” he wrote in the Wednesday morning note. “And today, I am honored to move forward with all of you — with ambition, optimism, and absolute confidence in what we can build together.”
That new era also included a goodbye to Bob Iger, who handed over the reins Wednesday and now moves into a senior advisory role for the rest of the year before his planned retirement.
The company paid tribute to Iger in a video during Disney’s annual shareholders meeting Wednesday morning.
With clips from his earliest public appearances as Disney’s CEO, a highlight reel of the acquisitions the company made under his tenure and even a nod to his previous career behind the anchor desk, the video highlighted Iger’s legacy at the company and the role he played in bulking up Disney’s franchises, global theme parks, sports and streaming platforms.
When asked in the video about where he’ll go from here, Iger laughed and replied, “To Disneyland.”
In a pre-recorded speech, Iger said his time at Disney has spanned much of his life and that he never expected to become CEO of the company — much less twice.
“Over the years, we experienced extraordinary change and faced real challenges that were particularly profound in the last three years,” Iger said. “It was daunting at times, but through it all, what sustained me was the passion I saw every day from great storytellers, innovators, leaders and people around the world.”
In his parting remarks during that speech, he expressed confidence in the new leadership team of D’Amaro and Dana Walden, who is now president and chief creative officer of the company.
“I will be cheering on Josh, Dana and all of you as I sail off into the sunset,” he said. “So thank you for the trust you placed in me, for the memories we created together, and for allowing me the honor of serving. It has meant more to me than I can say.”
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