Disney extends deal with CEO Bob Iger through 2026 – Orange County Register

by Thomas Buckley | Bloomberg

The Burbank-based Walt Disney Company has extended the contract of CEO Bob Iger for another two years, giving the longtime executive more time to execute. his rebuilding plan and find a successor.

In a statement Wednesday, the company said that under the new arrangement, Iger will remain CEO until December 31, 2026.

Eiger, 72 years old, Returned to management of a major entertainment company in November After previously serving as CEO for 15 years, he was given a two-year contract at the time that expired in December 2024. In addition to improving Disney’s profitability, he was tasked with helping find a replacement. This is an important process for any company, but the company recently failed in this process. Year.

Disney made the announcement while Iger was attending Allen’s annual conference in Sun Valley, Idaho. The event, which brings together leaders from the worlds of entertainment, technology and finance, was also attended by two of the likely successors, Disney theme parks chairman Josh Damaro and television director Dana Walden.

Iger, who previously ran the company’s television business, is credited with bolstering Disney’s creative powers. Shortly after taking over as CEO in 2005, he bought Pixar Animation Studios, later adding Marvel superheroes and Star Wars parent company Lucasfilm. As a result, Disney took the film industry by storm with a string of hits in the 2010s. Iger also opened Shanghai Disneyland Resort.

Iger has had little success finding replacements for him. After temporarily appointing Chief Financial Officer Tom Staggs as deputy commander, the company appointed park chief Bob Chapek as CEO in February 2020.

Mr. Chapek’s tenure has been rocky, coinciding with the pandemic, and the board fired him last year after he got into a clash with talent and staff. and Florida officials.