Disney just made a HUGE announcement about its CEO!
Remember when Disney brought Bob Iger BACK as the CEO of the company in late 2022, following Bob Chapek’s exit? Iger initially planned to stay on for just two years (which would be through November 2024), but now Disney has announced that he will stay LONGER.
Disney announced that Bob Iger has agreed to stay on as the company’s CEO through December 31st, 2026 (about two years longer than he initially planned).
The Board of Directors voted unanimously to extend Iger’s contract. Chairman of the Board Mark Parker said, “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.” Parker went 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.”
Iger also commented on this development: “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.”
In an interview with CNBC earlier this year, Iger shared that he “was not looking for a job and was not anticipating to be asked back” in November of 2022, when Disney reached out and asked him to return as CEO. “I have a huge passion for the company and huge respect for the people,” Iger said. “I had a sense of obligation.”
“My plan is to stay here for two years,” Iger told the interviewer back in February. “That’s what my contract says. That was my agreement with the board, and that is my preference.” Now that his contract has been extended, Iger has more time to accomplish his goals at Disney and find a successor to take his place.
This update is starting to remind us of Iger’s FIRST time as Disney CEO (from 2005 to 2020), when he pushed back his retirement several times.
Check out these links for more news and updates about Bob Iger:
- The Word Disney CEO Bob Iger Can’t Stop Using and Why He Doesn’t Really Mean It
- Bob Iger Reveals Important Disney Partnership with Apple
- One of CEO Bob Iger’s Big Disney Goals Is Now Complete
- Bob Iger Warns that One Thing Will Be “Highly Disruptive” and “Difficult to Manage” in Disney’s Future
- “This Is Plainly a Matter of Retaliation” — Bob Iger Comments on Reedy Creek Drama with Gov. DeSantis
We’ll continue to update you on the latest news, so stay tuned to AllEars.
Click here to see which of Bob Iger’s big Disney goals is now complete.
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What do you think of this change? Let us know in the comments.
Could not be happier that he is staying a bit longer!!!