Disney CEO Bob Iger Gets Contract Extension Through 2026

The Walt Disney Company board of directors announced today that Bob Iger will continue serving as CEO of the company through December 31, 2026.

Here are details of the announcement:

• The board voted unanimously to extend Iger’s contract by two years. The board noted that Iger’s extension provides “continuity of leadership during the company’s ongoing transformation, and allows more time to execute a transition plan for CEO succession, which remains a priority for the Board.”
• Statement from Disney Company board chairman Mark G. Parker: “Time and again, Bob has shown an unparalleled ability to successfully transform Disney to drive future growth and financial returns, earning him a reputation as one of the world’s best CEOs. Bob has once again set Disney on the right strategic path for ongoing value creation.”
• Iger returned to Disney last November after his hand-picked successor Bob Chapek was given the boot. Iger previously served as Disney CEO and chairman from 2005 to 2020, and then as executive chairman and chairman of the board through 2021. While at Disney during his first stint, Iger oversaw the acquisitions of Pixar (2006), Marvel (2009), Lucasfilm (2012), and 21st Century Fox (2019), as well as the opening of Disney’s first theme park and resort in mainland China, Shanghai Disney Resort, and the launch of the Disney+ streaming service in November 2019.
• Iger’s statement on his contract extension:

“Since my return to Disney just seven months ago, I’ve examined virtually every facet of our businesses to fully understand the tremendous opportunities before us, as well as the challenges we’ve been facing from the broader economic environment and the tectonic shifts in our industry. On my first day back, we began making important and sometimes difficult decisions to address some existing structural and efficiency issues, and despite the challenges, I believe Disney’s long-term future is incredibly bright. But there is more to accomplish before this transformative work is complete, and because I want to ensure Disney is strongly positioned when my successor takes the helm, I have agreed to the Board’s request to remain CEO for an additional two years. The importance of the succession process cannot be overstated, and as the Board continues to evaluate a highly qualified slate of internal and external candidates, I remain intensely focused on a successful transition.”