As a new CEO takes over the reins of Disney, television chief Dana Walden will step up to add oversight of Disney’s movie studio operations to her purview.
Starting March 18, Mr. Walden will serve as president and chief creative officer, overseeing film and television production and distribution activities within the Disney Entertainment division. She also continues to run the Hulu, Disney+, and TWDC marketing departments.
ESPN remains a sports television island within the Mouse House, with chairman Jimmy Pitaro continuing to report to CEO and soon to be replaced by Josh D’Amaro from Bob Iger. Asad Ayaz was named Disney’s chief marketing and brand officer last month, reporting to Mr. Iger and starting next month to Mr. D’Amaro. The head of Disney’s film division is Alan Bergman, who has served as co-chairman of Disney Entertainment with Walden for the past several years.
The transition between newly appointed CEO D’Amaro and Walden will undoubtedly be difficult. That’s because the two were publicly identified as the finalists to replace Bob Iger as CEO. There’s no doubt that the horse racing aspect of Disney’s long-running CEO succession drama has been a major distraction in the last few weeks, even straining the entertainment side’s ability to operate during a busy time of the year.
Walden’s new role will be a first for Disney. For D’Amaro, who is relatively unknown in Hollywood, his leadership of the studio and general guidance on the entertainment side of Disney’s Magic Kingdom will be crucial.
Read more: Disney names Park Director Josh D’Amaro as next CEO, replacing Bob Iger
Meanwhile, Walden rose through the ranks at Fox starting in 1993 and joined Disney in 2019 following the acquisition of 21st Century Fox. She has long been seen as a top candidate to replace Mr. Iger as CEO. However, macroeconomic changes in the Disney business and the political shift to the right in the United States are likely to influence the Disney board’s final vote. Walden is a prominent supporter of Democratic candidates and has a personal friendship with former Vice President Kamala Harris. In this extraordinary political moment in America, as the Trump administration wields blunt force in all aspects of business and culture, the Harris-Walden bond has clearly become a liability.
Mr. Damaro’s promotion to CEO is noteworthy from an entertainment industry perspective as well. For decades, Disney’s film and television studios were the company’s main driver of profits. But the dramatic changes to its balance sheet, as streaming has upended not just TV but also the movie business, means Disney’s parks and experiences space is poised for growth in the near future. Nothing emphasizes that more than choosing D’Amaro over a showbiz veteran for the top job.
Disney’s Dana Walden, newly promoted to president and chief creative officer, and Disney’s new CEO Josh D’Amaro
But just as Disney experienced with the ill-fated handover from Mr. Iger to Bob Chapek just a few years ago, his background was also in Disney’s parks and consumer products division, so the company’s ties to Hollywood’s business and creative communities cannot be ignored. Čapek’s early failures helped seal his fate, alienating his talent and the community that expressed it. Chapek assumed the CEO role in February 2020, but was removed from the role by Disney’s board in November 2022 less than three years later, and Iger was reinstated.
So Mr. D’Amaro and Mr. Walden will have to adjust and maintain a good working relationship amid massive disruption to maintain the health of the studio side of the company and contribute to the characters and stories that drive the parks and consumer products. By all accounts, the two sides are friendly and have worked closely together in recent years on parks, experiences and consumer products initiatives related to Disney’s extensive television and streaming activities.
Walden has signed a lucrative new employment contract through March 2030, according to Disney’s Securities and Exchange Commission disclosures.
