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The Walt Disney Company just made a major announcement concerning Disney’s CEO, Bob Iger. See just how long he will be with the company here.
Bob Iger returns
Bob Iger returned as Disney CEO back in November 2022. Many were hopeful that many issues would be addressed with the return of Bob Iger.
After his return, Iger shared just how long he expected to be with the company. He sat down with CNBC and shared the following statement: “Well, my plan is to stay here for two years, that’s what my contract says, that was my agreement with the board, and that is my preference,”.
His return was expected to be short, but he wanted to stay around long enough to help the board “succeed at succession”.
Contract Extended
Today, the Walt Disney Company announced a major contract extension for their CEO. Here is the official statement concerning the extension:
“The Walt Disney Company Board of Directors announced today that Robert A. Iger has agreed to continue to serve as Chief Executive Officer through December 31, 2026. In voting unanimously to extend Iger’s contract by two years, 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. Iger said.“
“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.”
Disney CEO, Bob Iger
Bob Iger returned to Disney in November 2022. Since returning, one of his key focuses has been changes to Disney’s streaming service, Disney+. The Walt Disney Company has shared that his vision with the company focuses on three pillars: generating the best creative content possible; fostering innovation and utilizing the latest technology; and expanding into new markets across the globe.
What do you think of the contract extension for Disney’s CEO, Bob Iger? Are you happy to see that his contract was extended or do you feel like the company needs someone brand new? Let us know in the comments below or share this post with a friend.
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J
Friday 14th of July 2023
He had all the time before and look how he left it. Paycheck mostly implemented Iger stuff. Yeah he completely botched it and made it worse, but Iger is the one who set it on that course, which is why nothing has changed. Most people I worked with wanted Chapek out, but we weren't excited about Iger returning. The people drinking the Kool aid are the excited ones and hoping they can ride the wave up before the crash.
JW
Thursday 13th of July 2023
Undecided about this....he's way better than Chapek. (It's amazing how much damage he did in such a short time.) But he hasn't done much to shape things up. Guests are still being gouged at the parks, movies released lately are terrible, and stock prices are very low. The issue is who could replave him and help restore Disney to the great company it once was? Hopefully things turn around before it's too late!
Ian Lamble
Thursday 13th of July 2023
Perhaps ‘succession’ = oversee Apple takeover ??
Disney Boy
Wednesday 12th of July 2023
He's trying to fix things. And he was really popular too. He needs more time.
Tampa Jim
Wednesday 12th of July 2023
I think that he is remaining in his post to defend the company against Ron DeSantis. Our current Governor's term ends on January 1, 2027 and he is term limited. Bob Iger is scheduled to leave on day before DeSantis