What was the biggest reaction within Disney on Tuesday? peace of mind.
As white smoke billowed over Burbank, and the Disney Conference finally named a new pope — with the added twist of a new creative pope — there was a sense that the cloud of uncertainty had finally lifted. The twin announcements of Josh D’Amaro becoming CEO and Dana Walden taking on the newly created position of president and chief creative officer allow Disney’s divisions to refocus on the entertainment business and what’s next on the menu now that a long CEO departure is over.
“It’s been bothering us for a long time and getting in the way and distracting us, so it’s great to have some clarity,” one executive said, echoing the sentiments of others Variety spoke to. Following Tuesday’s announcement, many internal leaders feel the company is doing everything right so far. This included releasing a joint photo of D’Amaro and Walden to convey the message of their partnership.
Most people seem to be aware that Disney took extra precautions to ensure Tuesday’s announcement didn’t set the stage for another disruptive leadership change. No one wants a sequel to what happened in 2022 when Bob Chapek was fired after a short tenure. And the way outgoing CEO Bob Iger, Disney’s board, D’Amaro and Walden have handled the news so far has received high praise from key executives. As reported by Variety, this is as close to a co-CEO structure as the board has ever intended to consider.
Meanwhile, in case you were wondering if Walden was feeling any bitterness about not getting the top job, she quickly took to social media and declared how excited she is about this new “dream job” in a classy Instagram post. Insiders also noted how Walden has long been a team player within the company. She had previously introduced Capek to town when he was named Iger’s successor and needed to build relationships with Hollywood’s creative community. “I think Dana would do the same with Josh,” says one source. Of course, it could have all been for show, but the show did well on opening day.
Now, the Disney squad is ready to hear about D’Amaro’s vision for the entire company. And, of course, what happens next with the reorganization under Mr. D’Amaro and Mr. Walden. If the CEO’s announcement is the first step, the next step is how each division of the company will be reimagined. Of course, important questions include what will happen to Disney Entertainment Co-Chairman Alan Bergman and Head of Sports Jimmy Pitaro (the other two executives vying for the top spot) and whether anything will change.
Also, there is a problem that bothers me a bit. This new announcement oddly precedes Asad Ayaz’s recent promotion to chief marketing officer and brand officer at Walt Disney Co. Mr. Ayaz will report directly to Mr. D’Amaro, but much of his film and television work will be overseen by Mr. Walden.
It was no secret that executives within Disney’s various television operations primarily supported Walden. Especially since while she’s a known figure in Hollywood, D’Amaro is a bit of an enigma to the entertainment team. “We would have liked to have seen Dana take this top job, but this feels like a somewhat elegant solution,” the source says. The disappointment was audible in many offices, as there were hopes that Disney would finally break the glass ceiling with its first female CEO.
However, for some time now the tide has been starting to tilt in D’Amaro’s favor, and it felt like an announcement was imminent by the end of this week, especially as leaks began to surface in various publications. Still, no one knew exactly when the word would be officially communicated. For example, Rob Mills, executive vice president of unscripted and alternative entertainment at Walt Disney Television, noticed this while attending the Real Screen Convention in Miami. Mills was in town to discuss the long-running success of “American Idol” and break news to Variety about the show’s new live Disney+ simulcast. Mills did not comment on the news, but when asked jokingly if D’Amaro was a fan of ABC’s unscripted show, Mills joked that maybe “American Idol” might film an episode at Disneyland.
The next question is whether Mr. Walden will resume his old role as co-chairman of Disney Entertainment. If so, could it be one of her current lieutenants? Disney Television Group President Craig Erwich, Disney Television Studios President Eric Schrier, Disney Branded Television President Ayo Davis, and FX Chairman John Landgraf are among the executives who could fill the role (although Landgraf has repeatedly said he is not interested in a larger role and is content to continue running a division focused on prestige).
Officials note that Walden’s new job will likely take longer, especially on the film side, as companies like Pixar, Marvel and Star Wars are in the midst of growing pains and need a fresh coat of paint. “I think Dana needs a head of TV and a head of film. If she’s going to be a true chief creative officer, she’s going to have to promote someone,” said one executive.
But the flip side of that argument is that these TV departments are running well and don’t need any additional oversight. (And some may be hesitant about no longer reporting to Walden.) “Maybe everyone just leveled up a little bit without changing too much,” one insider says.
Executives who work closely with Ms. Walden noted that her new role, chief creative officer, had never been held before at Disney and was created specifically for her. “It feels like it’s pretty historic for her that they’re creating a new executive role at this company,” the source said. There are two other specific management structures that should be compared. At Netflix, the workload is split between co-CEOs Greg Peters (the business side) and Ted Sarandos (the content side). At Comcast, Mike Cavanagh was named co-CEO, while Donna Langley was given oversight of content as chairman of NBCUniversal Entertainment.
And who will replace D’Amaro as chairman of the Disney Experience? Nominees include Bruce Bourne, president and chief creative officer of Walt Disney Imagineering, Tasia Philippatos, president of Disney Consumer Products, Thomas Mazloum, president of Disneyland Resort, and Jeff Vahr, president of Walt Disney World Resort.
“This year is going to be a year of big changes for this company,” said one person involved in the restructuring that is still to come.
