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Jul 13, 2023 - 18:09 Updated: Jul 15, 2023 - 18:18
The Walt Disney Company has extended CEO Bob Iger's contract to December 31, 2026. According to a press statement, the independent members of the Board of Directors observed that Iger's extension ensures continuity of leadership amid the Company's continuing transformation and enables additional time to implement a transition plan for CEO succession, which remains a priority for the Board.
Iger came out of retirement last year to manage the corporation for the first time in 15 years (from 2005 to 2020).
Time and time again, Bob has demonstrated an unrivalled ability to successfully transform Disney in order to drive future growth and financial returns, earning him a reputation as one of the world's best CEOs, said Mark G. Parker, Chairman of The Walt Disney Company.
There is still work to be done before this transformative work is finished, and because I want to ensure Disney is well-positioned when my successor takes the helm, I have agreed to the Board's request to stay on as CEO for an additional two years, Iger said in a statement.
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