BREAKING: Bob Iger to Remain Disney CEO Through 2026
The Walt Disney Company has had some leadership shakeups over the past several years. Bob Iger left his position of CEO back in 2020 handing over the reins to Bob Chapek, but then once again became CEO last year.
Photo: Disney
Now, we have an update about Iger’s future at the company.
Bob Iger Staying at Disney
Bob Iger will remain CEO of The Walt Disney Company through December of 2026, according to a press release from the company. He was originally only supposed to be at the company through December of 2024.
Photo: Natacha Rafalski on Instagram
The Board of Directors at the company voted unanimously to extend Iger’s contract by two years today.
Disney said that “the independent members of the Board of Directors 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.”
Image: Disney
“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,” said Mark G. Parker, Chairman, The Walt Disney Company.
He continued on to say, “Bob has once again set Disney on the right strategic path for ongoing value creation, and to ensure the successful completion of this transformation while also allowing ample time to position a new CEO for long-term success, the Board determined it is in the best interest of shareholders to extend his tenure, and he has agreed to our request to remain Chief Executive Officer through the end of 2026.”
Photo: Disney+
Bob Iger suddenly returned as CEO of The Walt Disney Company, replacing Bob Chapek, in November of 2022. Before this, he had been CEO of the company from 2005 to 2020, and then Executive Chairman and Chairman of the Board through 2021.
Photo: Variety
Iger had this to say about 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.”
Photo: Disney
Disney said that since returning as CEO, Iger’s strategic vision has focused on three things: generating the best creative content possible; fostering innovation and utilizing the latest technology; and expanding into new markets across the globe.
Iger made some monumental moves for Disney in his initial run as CEO. Under his leadership, Disney acquired Pixar, Marvel, Lucasfilm, and 21st Century Fox.
Photo: AFP
He also lead the helm as Disney opened its first theme park and resort in mainland China — Shanghai Disney Resort. And, Disney also launched their own streaming service, Disney+, under his leadership.
Stay tuned for more Disney news and update!
