New Delhi, Feb. 4 -- Walt Disney on Tuesday named Josh D'Amaro as its CEO, ending years of uncertainty on succession and placing a longtime insider to helm the company.

D'Amaro, 54, will take the reins from Bob Iger, 74, at the company's annual investor meeting on 18 March.

The insider, who is the head of Disney's theme parks, has been set up with a lucrative pay package for his first year too.

According to a report by Fortune, new Walt Disney CEO Josh D'Amaro has been offered a fat pay package for his first year at the role. The top leader will get a total grant-date value of roughly $45 million along with a mandate to steer one of the most well-known and exciting companies in the world.

That is not all.

Disney has fixed D'Amaro's a...