The board of directors of The Walt Disney Company unanimously offered Bob Iger a contract extension to remain CEO through 2026, which he accepted.
Iger has been with the company for a long time, and he was promoted to CEO in 2005, having previously served as the COO of ABC (1995-2000) and President of Disney (2000-2005). After a remarkably successful 15 years as CEO, Iger stepped down from the role in 2020 but remained on as Chairman of the board through 2021. The tenure of his replacement, Bob Chapek, was rocky (though he wasn’t helped by the global pandemic, either), leading Disney to make the shocking move to fire Chapek and bring Iger back as CEO in November 2022.
When Iger returned to the post, it was announced that he was returning on a two-year contract and that finding his successor was a priority. While the latter remains true, it will now wind up being a four-year stint in his return, should he complete this contract. It comes at a tumultuous time for Disney, and the film industry in general, as studios try to navigate the world of movies, TV, and streaming. For Iger, it has already meant quite a bit of cost cutting measures, but the challenges remain with Disney+, a murky box office future, the theme parks, and more. That’s on top of some incredibly important staffing decisions that will be made, not just regarding Iger’s eventual replacement at CEO but in the more immediate term, Christine McCarthy’s replacement as CFO after her unexpected departure recently, after 23 years with the company.
But if there is anyone up for the task of navigating Disney through uncertain waters into the future, it’s Iger. When he took over as CEO previously the company was also in a tenuous spot, but he ushered in moves to purchase Pixar, Marvel Entertainment, Lucasfilm, and 21st Century Fox while also launching Disney+ and opening Disney Parks in Hong Kong and Shanghai. He is among the most influential figures in Disney’s storied 100 year history, and he’ll be sticking around for a few more years.
Star Wars Thoughts 