This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Wednesday. In addition to Disney's Josh D'Amaro, there was another top dog announced yesterday: Penny the Doberman pinscher won best in show at the Westminster Kennel Club Dog Show. Stock futures are ticking higher this morning. The market is coming off a negative session. Here are five key things investors need to know to start the trading day:
1. The glass slipper fits
Josh D'Amaro, Chairperson of Walt Disney Parks and Resorts, speaks during Day 2 of the D23 Brazil: A Disney Experience at Transamerica Expo Center on November 09, 2024 in Sao Paulo, Brazil. Ricardo Moreira | Getty Images
Disney officially has a new chief executive in waiting. The entertainment giant announced that D'Amaro, who runs its fast-growing experiences business, will succeed CEO Bob Iger beginning March 18. Here's what to know: D'Amaro was tapped for the role after nearly three decades at the Mouse House. He will be the company's eighth chief executive in its more than century of existence.
The 54-year-old most recently chaired Disney's experiences division that includes parks and cruises — a unit the company said earlier this week reached $10 billion in quarterly revenue for the first time.
There's also a happy ending for Disney Entertainment Co-Chair Dana Walden, who was seen as the other CEO frontrunner in the closely watched succession story. She will become Disney's president and creative chief, reporting directly to D'Amaro.
Media reports ahead of the announcement widely suggested D'Amaro would win the role, leaving Wall Street largely unsurprised by the decision.
Disney's stock ticked lower in yesterday's session, adding to losses seen as earlier in the week after the California-based company's earnings report.
D'Amaro is taking on somewhat of an underdog in the public market: Shares of Disney have tumbled more than 40% over the last half decade, while the S&P 500 has climbed more than 80%.
2. Power off
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