The Walt Disney Company’s board of directors unanimously voted to extend CEO Bob Iger’s contract through the end of 2026, two years longer than his original contract. Iger, 71, had been set to step down in 2024, but the board decided to extend his contract in order to give him more time to find a successor and to continue leading the company through a period of significant growth and transformation.
In a statement, Iger said he was “honored” by the board’s decision and that he was “committed to leading Disney through this next chapter of its growth and success.” He also said that he was “confident” that the company would continue to “thrive” under his leadership.
Iger’s contract extension comes at a time when Disney is facing a number of challenges, including the ongoing COVID-19 pandemic, the war in Ukraine, and rising inflation. However, the company is also benefiting from strong growth in its streaming business, Disney+, and its theme parks.
The board’s decision to extend Iger’s contract is a sign of the confidence they have in his leadership. Iger has been CEO of Disney since 2005, and during his tenure the company has grown significantly. He has overseen the acquisition of Pixar, Marvel, Lucasfilm, and 21st Century Fox, and he has helped to transform Disney into a global media and entertainment powerhouse.
It remains to be seen who will succeed Iger as CEO of Disney. However, the board’s decision to extend his contract gives them more time to find a suitable replacement and to ensure a smooth transition.
