Walt Disney Studios Co. and Bob Iger have announced that they have reached an agreement to continue the work done together until 2026.
Bob Iger has extended its agreement with Walt Disney Co. until the end of 2026, thus not having to relinquish his role as CEO at the end of 2024.
The manager had returned to lead the studio in November 2022, having said goodbye to the position less than a year after his departure from the scene.
Confirmation at the top of Disney
After 15 years of work, in February 2020, Bob Iger had given up his commitment as CEO of Disney. Bob Chapek had arrived in his place, however after a few months the studio decided to rehire its former CEO.
Mark G. Parker, to announce the renewal of the agreement, said: “Time and time again, Bob has proven that he has the unmatched ability to lead Disney towards future growth and financial returns, earning him the reputation he claims is one of the best CEOs in the world. Bob has again moved Disney into the right strategic territory for continued value creation and to ensure the successful completion of this transformation, while also allowing everyone the time necessary to onboard a new CEO with long-term success in mind, the Board of Directors decided it was in the best interests of shareholders to extend his term and accepted our request to remain CEO through the end of 2026“.
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Iger added: “Since my return to Disney just seven months ago, I have examined virtually every aspect of our businesses to fully understand the tremendous opportunities ahead, as well as the challenges we have been faced with from the broader economic environment and dramatic changes in our industry. The first day after my return, we started making important and sometimes difficult decisions to address some existing structural and efficiency issues, and despite the challenges, I believe Disney’s long-term future is incredibly bright. But there is still a long way to go before this transformational work is completed, and because I want to make sure Disney is well positioned when my successor takes over at the helm, I have accepted the board’s request to remain chief executive officer for another two years“. The CEO concluded by noting: “The importance of the succession process cannot be underestimated, and as the Board of Directors continues to evaluate a pool of qualified candidates, internally and externally, I remain intensely focused on a successful transition.“.