Change is in the air for CEOs. 

The Walt Disney Co. appointed Josh D’Amaro as its next chief executive officer on Tuesday, succeeding two-time CEO Bob Iger. D’Amaro, who will get a $45 million pay package, comes from the company's theme parks and experiences division, which generates the lion's share of the company's profits. 

D’Amaro beat out Dana Walden, Disney's entertainment division co-chair, for the top job in a closely watched succession process. It was all carefully managed by Disney after its messy changeover in 2020, when Bob Iger handed the reins to Bob Chapek only to reclaim his job two years later. 

Things were not quite so smooth up in Silicon Valley on Tuesday, as PayPal dumped CEO Alex Chriss with a pointed and public farewell note ("the pace of change and execution was not in line with the board’s expectations") and replaced him with Enrique Lores, the CEO of HP.

Lores' move to PayPal seems to have caught HP by complete surprise, according to a report by Semafor.  HP named board member Bruce Broussard, a former CEO of Humana, as its interim leader.

While we're on the subject of CEO changes, don't miss Phil Wahba's insightful piece about why AI is likely to bring about even more changes in the C-suite—AO

Grok, xAI’s chatbot, continues to land Elon Musk’s social media company in hot water. French authorities raided X's Paris offices on Tuesday as part of a sprawling investigation into suspected offenses including complicity in possession and distribution of child abuse images and creation of non-consensual sexual deepfakes. Prosecutors also announced they had summoned both Musk and former X CEO Linda Yaccarino for voluntary questioning in April.

The probe, which was first launched in January 2025 after a complaint about biased algorithms, has since widened to include charges related to Grok—including whether Grok engaged in Holocaust denial via its outputs, a crime in France. Additional potential charges include fraudulent operation of data processing systems and running an illegal online platform.

Across the Channel, the U.K.'s Information Commissioner's Office also launched a new probe into Grok that will investigate reports that the chatbot has been used to generate sexual imagery of children. The European Commission, meanwhile, is investigating X over the alleged creation of AI-generated intimate images without consent. X previously dismissed the French probe as "politically-motivated" and an assault on free speech. —Beatrice Nolan