Nelson Peltz Weighs in on Disney’s CEO Decision
One of the most highly anticipated succession announcements in Hollywood history came to a close today when The Walt Disney Company announced that Josh D’Amaro will succeed Bob Iger as its next CEO.
D’Amaro was chosen after an extensive search that included both internal and external candidates.
Photo: Disney
In the end, however, the process came down to a two-person race between the Disney Experiences Chairman and Disney Entertainment Co-Chair Dana Walden.
The Final Decision
Ultimately, Disney settled on D’Amaro, though Walden will remain with the company as its new President and Chief Creative Officer.
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In the aftermath of Disney’s major announcement, Josh D’Amaro has been roundly praised by investors, fans, and fellow executives alike.
“Josh D’Amaro is an exceptional leader and the right person to become our next CEO,” Iger said.
Photo: The Walt Disney Company-Josh D’Amaro (Chairman; Disney Parks, Experiences and Products)
“He has an instinctive appreciation of the Disney brand, and a deep understanding of what resonates with our audiences, paired with the rigor and attention to detail required to deliver some of our most ambitious projects. His ability to combine creativity with operational excellence is exemplary and I am thrilled for Josh and the company.”
Photo: Deadline
Not everyone, however, is impressed by Disney’s decision.
Nelson Peltz Weighs In
Nearly two years after losing a proxy battle to gain a seat on the Disney board of directors, activist investor Nelson Peltz has weighed in on the company’s new CEO announcement.
Photographer: Also Patrick T. Fallon/Bloomberg via Getty Images
Unsurprisingly, he was skeptical.
In Peltz’s view, Iger will use D’Amaro’s lack of entertainment experience as a reason to maintain influence over the company.
“Josh doesn’t know anything about the movie business, the entertainment business; therefore, I’m going to stay on and guide him,” Peltz said (via Business Insider), predicting what Iger might say.
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“Poor Josh,” he added with a laugh.
As Peltz looks ahead to Disney’s future, he believes D’Amaro has his work cut out for him.
“I hope he’s given the opportunity to do it.”
Photo: Disney
