Disney has named Josh D’Amaro as its next CEO, succeeding Bob Iger. D’Amaro, formerly chairman of Disney Experiences, will officially take over on March 18, with Iger serving as a senior advisor until the end of the year. The decision comes after a thorough vetting process by the Disney board.

D’Amaro’s appointment follows a period of uncertainty and mixed reception from Wall Street regarding Disney’s business. Despite reporting quarterly earnings that exceeded expectations, Disney’s stock dropped 7%. The theme parks division, however, saw over $10 billion in revenue for the first time, signaling growth potential.

Bob Iger’s legacy at Disney spans two stints as CEO, marked by successful acquisitions and the launch of Disney+. His departure in 2020 and the appointment of Bob Chapek as his successor faced criticism amid the Covid pandemic. Iger eventually returned as CEO in 2022, implementing a restructuring plan to drive future success. Bob Iger reflects on his successful tenure at Disney, highlighting growth and profitability in TV, streaming, box office, and theme parks. Succession planning becomes a focus as Iger extends his contract to 2026 and prepares for a timely handover to his successor. The process is described as thorough and collaborative, aiming for a smooth transition without drama.

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1. The Federal Reserve announced a cut in interest rates by 0.25%, bringing the target range to 1.75%-2.00%. This decision is aimed at supporting the economy amid global growth concerns and trade tensions.

2. Apple unveiled its new iPhone 11, 11 Pro, and 11 Pro Max models, featuring improved cameras and battery life. The tech giant also announced a price drop for its basic iPhone model to $699.

3. The U.S. job market added 130,000 new jobs in August, falling short of economists’ expectations of 160,000. Despite the slowdown, the unemployment rate remained at a low 3.7%.: Josh D’Amaro picked to succeed Bob Iger