It's official: Josh D'Amaro is Disney's new top dog - or, in this case, mouse. D'Amaro, who oversees Disney's parks as its experiences chairman, was just chosen to succeed Bob Iger as CEO. Iger is set to step down on March 18, paving the way for D'Amaro to take over. D'Amaro is an "exceptional leader and the right person to become our next CEO," Iger said in a statement. Disney's board voted unanimously for his promotion on Monday, the company said in a statement.
Disney beat earnings expectations this morning but missed on revenue, a split result that underscores the tension between the company's recovery momentum and its struggle to grow the top line. Adjusted EPS came in at $1.11 versus the $1.06 estimate, while revenue landed at $22.46 billion against a $22.98 billion expectation. The stock was trading near $116 at filing. The bright spot was Parks and Experiences, where operating income climbed 13% year over year on strong domestic and international performance.