Josh D'Amaro was named the new CEO of The Walt Disney Company, replacing Bob Iger, NPR News reported Tuesday. The announcement came from the company's board of directors, with Iger set to step down from the board's executive committee next month, on March 18, and depart completely at the end of the year, according to Fortune.
D'Amaro, a businessman who has been with Disney for 28 years, most recently served as chairman of Disney Experiences, which includes cruise ships, theme parks, and resorts, according to NPR News.
Iger's transition will involve an advisory role, reporting exclusively to the board, Fortune noted. D'Amaro's compensation package for his first year is valued at approximately $45 million, Fortune reported. This includes a mandate to lead one of the most recognizable companies in the world and a "clean break" from Iger.
In other news, President Donald Trump signed a funding package to reopen much of the federal government Tuesday afternoon, ending a four-day partial shutdown, Time reported. The measure gives lawmakers until next Friday to negotiate new funding for the Department of Homeland Security (DHS) and potentially new restrictions after the fatal shooting of two civilians by federal immigration agents last month in Minneapolis. "This bill is a great victory for the American people," Trump said as he signed the package, according to Time.
Meanwhile, in the Middle East, Syria is taking steps to return property to Jews, NPR News reported. The Syrian government transferred control of Jewish sites in December to Henry Hamra's Jewish heritage organization, according to NPR News.
In San Francisco, Mayor Daniel Lurie has been working to revitalize the city's economy, Fortune reported. Lurie, an heir to the Levi Strauss family fortune, previously focused on poverty-fighting initiatives. As chairman of the city's host committee in 2013, Lurie persuaded the NFL to host Super Bowl 50 when Levi’s Stadium was under construction, Fortune reported.
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