Disney Sets Pay Packages for New CEO Josh D’Amaro, Chief Creative Officer Dana Walden

Disney has set the pay packages for new CEO Josh D’Amaro and president and chief creative officer Dana Walden, according to a new regulatory filing on Tuesday.

D’Amaro is set to receive an annual base salary of $2.5 million. He’s also eligible for an annual, performance-based bonus with a target equal to 250% of the base salary, with the actual amount payable dependent on the achievement of certain objectives. He will also be granted a long-term incentive award with a target value of $26.25 million, subject to adjustment by Disney’s compensation committee, and an additional one-time long-term incentive award with a target value of $9.71 million.

Meanwhile, Walden, whose contract is set to expire March 17, 2030, will have an annual base salary of $3.75 million. She will also be eligible for an annual, performance-based bonus with a target equal to 200% of that annual base salary, receive a long-term incentive award with a target value of $15.75 million for each full fiscal year during her president and CCO tenure and a one-time long-term incentive award valued at $5.26 million for her new position.

When including the one-time bonuses, D’Amaro will receive a total compensation package of approximately $38 million in his first year, while Walden will receive a package of approximately $24 million in her first year.

The new pay packages for D’Amaro and Walden come after outgoing CEO Bob Iger was paid $45.8 million in total compensation for 2025, an 11.5% year over year increase.

Iger, whose contract is set to expire at the end of 2026, will transition into the role of senior advisor and remain a board member, subject to the vote at Disney’s annual meeting in March. He will step down from the executive committee of the board after the annual meeting. The terms of his employment agreement remain unchanged.

D’Amaro is expected to serve as a director on the board and member of the executive committee following the annual meeting. The annual meeting is set for March 18.

D’Amaro’s appointment comes after a years-long search process led by the Disney board’s succession planning committee, which includes chairman Gorman, who led his own search for a successor after an 18-year run as Morgan Stanley’s CEO, and directors Mary Barra, Jeremy Darroch and Calvin McDonald.

In fiscal 2025 alone, the succession planning committee met five times. It reported to the full board at every scheduled meeting and reserved time to meet without Iger present as appropriate. It also discussed succession with Iger present at least once a year.

As part of the discussions, the board’s compensation committee reviewed and considered shareholder feedback to determine a new CEO pay package when succession takes place and design an executive compensation program aimed at “driving the creation of long-term shareholder value.”

In addition to D’Amaro, Walden, Disney Entertainment co-chair Alan Bergman and ESPN chairman Jimmy Pitaro were in the running for the top job. Disney shares dipped 1.5% on Tuesday following the announcement.

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