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The Walt Disney Company Board Of Directors Extends Disney CEO Robert “Bob” Iger Through 2031 | Total Incompetence of Board, Unable to find a proper successor CEO. Board admits failure with renewal
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The Man who broke Disney gets to stay for several more years to try and fix his mess, because nobody else wants it.
VARIETY Magazine:
Bob Iger Extends Contract as Disney CEO Through 2026
https://variety.com/2023/film/news/bob-iger-disney-ceo-extension-2026-1235668668/
Bob Iger will remain at the helm of Walt Disney Co. through 2026, fulfilling a prediction from many in the industry that he would not step down as CEO at the end of next year as originally planned.
“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,” said Disney chairman Mark G. Parker. “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.”
“Since my return to Disney just seven months ago, I’ve examined virtually every facet of our businesses to fully understand the tremendous opportunities before us, as well as the challenges we’ve been facing from the broader economic environment and the tectonic shifts in our industry,” Iger said. “On my first day back, we began 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 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,” he said.
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