Bob Chapek’s Contract Extended to Continue His Role as CEO of the Walt Disney Company

CEO of the Walt Disney Company Bob Chapek has had a challenging first two years in this top leadership position following the COVID-19 pandemic and ongoing controversies with the political climate in Florida.

Despite the challenges, and mixed opinions at best on the current CEO from fans, the Walt Disney Company Board of Directors today voted unanimously to extend Chapek’s contract, cementing his role as CEO for another three years.

Susan Arnold, Chairman of the Board commented on Chapek’s contract extension and the Board’s decision to approve the contract saying:

Disney was dealt a tough hand by the pandemic, yet with Bob at the helm, our businesses—from parks to streaming—not only weathered the storm, but emerged in a position of strength. In this important time of growth and transformation, the Board is committed to keeping Disney on the successful path it is on today, and Bob’s leadership is key to achieving that goal. Bob is the right leader at the right time for The Walt Disney Company, and the Board has full confidence in him and his leadership team.

Bob Chapek took on the CEO position at the beginning of 2020 as former CEO Bob Iger began to transition out of the role. Prior to his position as CEO of the Walt Disney Company, Chapek worked with Disney as Chairman of Disney Parks, Experiences and Products since this area was added to the business segment lineup in 2018.

He had also served as president of Distribution of the Walt Disney Studios, and president of Walt Disney Studios Home Entertainment, which might have some impact on Chapek’s decisions to focus so heavily on streaming services like Disney+, Hulu, and Hotstar.

In response to his contract extension, Chapek said:

Leading this great company is the honor of a lifetime, and I am grateful to the Board for their support. I started at Disney almost 30 years ago, and today have the privilege of leading one of the world’s greatest, most dynamic companies, bringing joy to millions around the world. I am thrilled to work alongside the incredible storytellers, employees, and Cast Members who make magic every day.

Chapek’s leadership thus far outside of the rocky situation with Governor DeSantis in Florida, has largely focused on expanding Disney’s streaming platforms and finding new content to produce for them, and immersive storytelling in Disney Parks and Resorts.