Disney extends contract with CEO Bob Iger for another 2 years through 2026
Iger wasted no time in returning to the CEO position, making it one of his priorities to reconnect with Disney theme park devotees and restore their faith in the brand.
ORLANDO, FL – Editor’s Note: The above video is from a previous story.
Bob Iger will remain CEO of The Walt Disney Co. until the end of 2026, agreeing to a two-year contract extension that will give the entertainment and theme park company breathing space to find its successor.
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Iger returned to Disney as CEO in November, taking over the company from Bob Chapek. He previously served as CEO and Chairman from 2005 to 2020 and then as Executive Chairman and Chairman until 2021.
Čapek’s short tenure was met with harsh criticism, especially from Disney park supporters who openly criticized Čapek on social media. Many fans believed that Čapek had a “business first, customer later” mentality.
Iger wasted no time in returning to the CEO position, making it one of his priorities to reconnect with Disney theme park devotees and restore their faith in the brand.
“Because I want to ensure a strong position for Disney when my successor takes over the company, I agreed to the board’s request to remain CEO for another two years. The importance of the succession process cannot be overstated and as the board of directors continues to evaluate a roster of highly qualified internal and external candidates, I remain focused on a successful transition,” Eiger said in a statement.
Iger’s attempted to protect the Disney World theme park area from being taken over by Florida Gov. Ron DeSantis. Disney filed a lawsuit against DeSantis in late April, alleging that the governor launched a “targeted government retaliation campaign” after the company opposed a law critics call Don’t Say Gay.
Last month, attorneys for DeSantis, the state agency, and his representatives on the revamped board governing Disney World asked a judge to dismiss the federal lawsuit.
The Disney Board of Directors fully supported Iger, voting unanimously to extend his contract.
“Bob once again put Disney on the right strategic path to continually create value, and to ensure that this transformation is successfully completed, as well as providing enough time to position the new CEO for long-term success, the board decided he was in the best position. shareholder interest in extending his tenure, and he has agreed to our request to remain CEO until the end of 2026,” Chairman Mark Parker said in a statement.
