Disney Extends CEO Bob Iger’s Contract Through 2026
The board of The Walt Disney Company has unanimously voted to extend CEO Bob Iger’s contract by two years, until the end of 2026.
When Iger returned to the CEO position in 2022, he had initially planned to stay for two years while a replacement was sought.
In a statement, Iger acknowledged the challenging decisions he has made to address structural issues but expressed confidence in Disney’s bright future. He also emphasized his commitment to finding his successor.
Iger resumed his role as CEO in November 2022, following his retirement. Disney had stated that he would work closely with the board to identify a successor.
Finding a replacement for Iger has proven difficult for Disney, and questions remain regarding the company’s succession plans and future leadership.
Disney Chairman Mark Parker praised Iger’s transformative abilities and strategic direction, ensuring the company’s continued growth and value creation.
This is not the first time Iger has undertaken the search for a successor, as he previously announced his retirement in 2020, with Bob Chapek taking over as CEO.
Chapek faced challenges during his tenure, including the Covid-19 pandemic’s impact on theme parks and controversies surrounding legal battles and handling of sensitive issues.
In November 2022, Chapek was removed from the CEO position, and Iger returned as CEO. Iger had previously served as Disney CEO for 15 years, from 2005 to 2020.
