Iger quickly set about restructuring the firm, aiming to tackle ballooning expenses in the streaming and film business, regain momentum for sports-focused ESPN and expand its parks and cruise lines.
In the announcement, Iger said he was “proud to step away at a moment when Disney’s future has never been brighter”.
D’Amaro joined the company in 1998 at Disneyland Resort, before rising to his current position as chairman of the Disney Experiences division, which has 185,000 employees and generated $36bn in revenue last year.
In the role, the 54-year-old oversees 12 theme parks and 54 resorts globally.
He has handled projects such as World of Frozen and Star Wars: Galaxy’s Edge, as well as managing digital ventures such as Disney’s collaboration with the firm behind Fortnite.
In an interview on CNBC, Disney board chair James Gorman said D’Amaro brought not just financial skills but “great creative touch”.
