Day One Decisions
Josh D’Amaro: What Your First Move as CEO Says About Everything
“I know this is hard. These decisions are not a reflection of their contributions.”
— Josh D’Amaro, CEO, The Walt Disney Company, 14 April 2026
Real Moves. Real Lessons. One Leader at a Time.
4 min read
Josh D’Amaro, CEO of The Walt Disney Company, at the 2026 Annual Shareholders Meeting, Burbank, California, 18 March 2026. Image: © Getty Images — used for editorial reference.
Josh D’Amaro became CEO of The Walt Disney Company on 18 March 2026, succeeding Bob Iger after a carefully managed succession process. A 28-year Disney veteran, he ran the parks, built Star Wars: Galaxy’s Edge and Avengers Campus, and led the Experiences division to $36 billion in annual revenue. Twenty-seven days into the job, he sent a memo to all 231,000 employees announcing 1,000 layoffs. It was his first major decision as CEO — and it tells us everything about how he intends to lead.
Also this month: Tim Cook — Leading Apple Through Its Most Pressured Year and Knowing When to Hand Over
What D’Amaro Got Right
✅ WIN — DO THE HARD THING EARLY AND OWN IT PERSONALLY
The consolidation of Disney’s marketing operations had already been announced in January — six weeks before D’Amaro even took the job. The structural decision was inherited. What he chose was to execute it quickly and personally rather than let it drag across his first quarter as an unresolved cloud. By absorbing the news early, he cleared the path for everything else.
Equally important was how he delivered it. “I know this is hard,” he wrote in his memo — four words most CEOs edit out. He acknowledged the uncertainty employees were feeling. He named the difficulty rather than hiding behind corporate language. For a company whose entire culture is built on emotional connection, the tone of that memo was a leadership signal as important as the decision itself.
Leadership Lesson
Inherited problems do not get easier with time. Execute early, own it personally, and humanise the delivery. The way you tell people hard news is a leadership statement in itself — and people remember it long after the decision fades.
What Could Have Been Better
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❌ The Miss The memo told employees what was ending. It did not tell them what was beginning. D’Amaro’s “One Disney” vision has been outlined at a high level but not yet translated into specifics. When you remove something, you create a vacuum — and people fill vacuums with anxiety. Disney’s stock is down over 9% year to date. The market and the workforce both need a forward story, not just a restructuring. |
The Silver Lining He has been CEO for less than a month. Expecting a fully articulated strategy at this stage is unrealistic. He has signalled the direction — lean into Experiences, unify marketing, use technology to deepen consumer connection. The Experiences division generates nearly 75% of Disney’s operating income and is his home ground. He knows exactly where the value lives. |
Leadership Lesson
When you remove something, fill the gap with direction as quickly as possible. People can tolerate change. What they struggle with is uncertainty about what comes next.
The Speculation: What Happens Next?
The most important thing D’Amaro does next is not another restructuring — it is a growth story. Investors and employees need to see that the cuts are the foundation for something, not just the end of something. The “One Disney” vision needs specifics soon.
There is also a quieter leadership test few are discussing. Bob Iger remains as Senior Advisor and board member until the end of 2026. Managing the presence of a highly active, highly respected predecessor while establishing your own distinct voice is one of the hardest things a new CEO faces. How D’Amaro handles that relationship will shape the perception of his leadership as much as any business result.
The Scorecard
Communication & PR
★★★★☆
Honest and human in tone. The gap is in the forward narrative — strong on what is ending, still forming on what is beginning.
Business Results & Performance
★★★★☆
Too early to judge fully at 27 days. Strategic instinct is sound — protect the Experiences division, eliminate duplication, move quickly. The growth story is what this score is waiting for.
Overall
★★★★☆
Four stars for a leader 27 days in. D’Amaro moved decisively, communicated with genuine humanity, and showed from the start that he knows where Disney’s value is created. This score will move — in either direction — quickly.
The Leadership Leaderboard — April 2026
Also this month: Tim Cook — Leading Apple Through Its Most Pressured Year and Knowing When to Hand Over
One more leader is coming before the month is out. Watch this space.
The April Monthly Leaderboard drops on 1 May 2026.
Your question for this week:
D’Amaro made his first major move as CEO in 27 days. If you were stepping into a leadership role tomorrow — a new job, a new team, a new responsibility — how long would you wait before making the first hard call?
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Bobola Adeoye Leadership & Property Insights · bobolaadeoye.com |
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