The Walt Disney Company (DIS) saw its stock slip 2% on Tuesday after it officially chose Josh D’Amaro to succeed Bob Iger as CEO. D’Amaro, who currently oversees Disney’s theme parks and dozens of its resort hotels, will take the helm of the company on March 18, 2026, the company said Tuesday.

“Josh D’Amaro possesses that rare combination of inspiring leadership and innovation, a keen eye for strategic growth opportunities, and a deep passion for the Disney brand and its people – all of which make him the right person to take the helm as Disney’s next CEO,” said James Gorman, Chairman of The Walt Disney Company Board of Directors. “Throughout this search process, Josh has demonstrated a strong vision for the company’s future and a deep understanding of the creative spirit that makes Disney unique in an ever-changing marketplace. He has an outstanding record of business achievement, collaborating with some of the biggest names in entertainment to bring their stories to life in our parks, showcasing the power of combining Disney storytelling with cutting-edge technology. The Board believes he is exceptionally well prepared to guide this global company forward to serve our consumers around the world and create long-term value for shareholders.”

D’Amaro, 54, has held multiple roles at Disney since joining the company in 1998, including in finance, business strategy, marketing, creative development, and operations. He served as president of Walt Disney World Resort before stepping in as chairman of Disney Experiences in 2020. Now, he will serve as the company’s latest chief executive officer.

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Disney (DIS) stock reaction

Shares in Disney (DIS) are down 2% on Tuesday and nearly 10% in 2026 so far. Fortunately, analysts are mostly bullish on Disney with price targets significantly above the current market value. Seaport Global sets a $130 price target, while Evercore ISI Group sees it reaching $142. These targets suggest significant upside from the current price of $103.

Disney stock is now headed lower for a second session, on track to test its lows from November. It has been a difficult few years for Disney stock. In the past 12 months, it has declined about 10%. Going back five years, the stock is down more than 40%. As of Tuesday, shares sit well below both the 21-day and 50-day averages.