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Source: Fortune.com
Summary
Disney announced Josh D’Amaro as its new CEO, replacing Bob Iger. D’Amaro’s predecessor, Dana Walden, was a fellow CEO contender but will remain at the company as president and chief creative officer. The new CEO and chief creative officer roles are distinct, with Walden overseeing all movies and streaming series, and reporting directly to D’Amaro.
Our Reading
The announcement sounds familiar.
Dana Walden, the TV and entertainment chief, was reportedly a fellow CEO contender who lost out to Josh D’Amaro. Despite this, she will remain at the company as president and chief creative officer, overseeing all movies and streaming series.
D’Amaro will have to manage a team that includes someone who wanted his job, while Walden will have to answer to the CEO who beat her out.
The new double-barreled leadership arrangement is unique, with distinct titles and designated realms of influence. However, it won’t guarantee a smooth partnership, and D’Amaro must settle on a common goal and delegate tasks to Walden.
The situation is a test of Walden’s personal feelings about the situation – her ambition and whether she’s determined to one day be a CEO.
Original Observation: When the CEO and chief creative officer are one and the same, the company’s creative vision is often compromised by the pressure to meet financial targets.
Author: Evan Null
