Josh D’Amaro, the longtime head of The Walt Disney Company’s theme parks, has been named the next chief executive officer for the entertainment giant.

The Feb. 3 announcement of D’Amaro’s promotion kicks off the final transition from Bob Iger, who has been the public face of Disney for much of the past two decades. It comes more than three years after the company’s previous effort to replace Iger fell apart, prompting his return to the job.

D’Amaro will officially take over as CEO on March 18 at Disney’s annual shareholder meeting. As part of the same transition, Dana Walden, a top executive who oversees Disney’s television and streaming operations, has been named president and chief creative officer. Beginning March 18, she will report directly to D’Amaro and focus on the company’s storytelling and content pipeline in the newly created role.

Iger, meanwhile, will stay on as a senior adviser and member of Disney’s board of directors until he retires from the company at the end of this year.

“Josh D’Amaro is an exceptional leader and the right person to become our next CEO,” Iger, who turns 75 next week, said in a news release.

D’Amaro, 54, said in the release that he is “immensely grateful to the Board for entrusting me with leading a company that means so much to me and millions around the world.”

“I also want to express my gratitude to Bob Iger for his generous mentorship, his friendship, and the profound impact of his leadership,” he added.

D’Amaro joined Disney in 1998 in a role at Disneyland Resort. He is currently chairman of the Disney Experiences unit, where he oversees a dozen theme parks, a cruise line, and nearly 60 resort hotels across the United States, Europe, and Asia. There is also a planned theme park in Abu Dhabi in the United Arab Emirates—a major push into the Middle East that is part of a 10-year, $60 billion Disney Experiences expansion.

Outside of parks and resorts, D’Amaro also leads Disney’s consumer products operation, which manages the company’s lucrative licensing business for children’s toys, apparel, and home goods, according to the company.

While Disney’s film, television, and streaming businesses often draw the most attention, its parks and experiences have remained the company’s most dependable profit engine, generating billions of dollars in operating income as attendance and guest spending have grown year over year.

According to Disney’s first-quarter earnings report released on Feb. 2, the Experiences segment generated more than $10 billion in revenue. The company said its domestic theme parks produced $6.91 billion in revenue, while international parks brought in $1.75 billion, with each figure up 7 percent from the same period a year earlier.

Overall company revenue for the quarter was roughly $26 billion, an increase of about 5 percent year over year.

Disney’s board highlighted those results in the Feb. 3 announcement, describing the company as “more agile and more resilient” under Iger’s leadership and saying that D’Amaro will take over the company “in a vastly stronger position than it was” when Iger was brought back for a second tenure.

Iger was reinstated as CEO in late 2022—two years after initially stepping down—after the board ousted his handpicked successor, Bob Chapek, following a period of internal clashes over strategy and weakening financial performance.

“On behalf of the entire Board, we extend our deepest gratitude to Bob Iger for his extraordinary leadership and dedication to The Walt Disney Company,” Disney chairman James Gorman said in the release.