BREAKING: Disney CEO Bob Chapek’s Contract Extended Three Years
Big news out of The Walt Disney Company. CEO Bob Chapek had his contract extended by three years. This was voted on unanimously by the Board.
“Disney was dealt a tough hand by the pandemic, yet with Bob at the helm, our businesses—from parks to streaming—not only weathered the storm, but emerged in a position of strength,” said Susan Arnold, Chairman of the Board. https://t.co/UvcH53U58p
— Variety (@Variety) June 28, 2022
Susan Arnold, Chairman of the Disney Board is quoted, “Disney was dealt a tough hand by the pandemic, yet with Bob at the helm, our businesses — from parks to streaming — not only weathered the storm, but emerged in a position of strength,” Susan Arnold, the chairman of Disney’s board, said in a statement on Tuesday. “In this important time of growth and transformation, the Board is committed to keeping Disney on the successful path it is on today, and Bob’s leadership is key to achieving that goal. Bob is the right leader at the right time for The Walt Disney Company, and the Board has full confidence in him and his leadership team.”
“Leading this great company is the honor of a lifetime, and I am grateful to the Board for their support,” Chapek, who is 63, added. “I started at Disney almost 30 years ago, and today have the privilege of leading one of the world’s greatest, most dynamic companies, bringing joy to millions around the world. I am thrilled to work alongside the incredible storytellers, employees, and Cast Members who make magic every day.”
Chapek has dealt with some backlash over the last few weeks regarding his response to the anti-gay bill in Florida, triggering Governor Ron DeSantis’s displeasure and in turn him abolishing Disney’s self-governing district in Orlando. Many people have voiced their opinions that Chapek and the Disney company should “stay out of politics”.
On Tuesday, the board praised Chapek’s efforts to build customers for Disney+ streaming servce in 2019 after the company took a major loss in revenue due to the Covid-19 shutdown. The company’s stock grew exponentially and offset the lost revenues. The board believes Chapek is the right man in charge to lead the company to more success.
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Source: Variety