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Disney World has gone through many changes in the last year. Some changes have included executives leaving The Walt Disney Company. Along with the leaves came over 7,000 layoffs as Disney tried to reel in issues and steer the company in a different direction.
Eight months ago, Bob Iger was reappointed as CEO of Disney. The Walt Disney Company essentially dumped then-CEO Bob Chapek in hopes of revenue increase and overall improvement in success in all avenues. Although his original contract was only until the end of next year, it has been extended through 2026.
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Disney's board unanimously voted to extend CEO Robert Iger’s contract by two years https://t.co/ULN2pw5FgN
— The Wall Street Journal (@WSJ) July 12, 2023
Bob Iger’s Contact Extension
In his previous role as CEO, Bob Iger has proven his ability to manage a giant as big as the Walt Disney Company, which is not surprising that he was asked to come back or stay longer. “The decision by the board was unanimous and cited the need to transform the company and to execute a transition plan, “which remains a priority for the board,” reported by The Hollywood Reporter.
The chairman of The Walt Disney Company, Mark Parker, only had nice things to say about the urge for this extension. “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,” he said on the matter.
Credit: Fox Business
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It doesn’t come to much surprise either, with so many changes underway. In a short eight months, it is nearly impossible to implement all of the changes the company needs and Iger plans to deliver. He agreed that while there is more to accomplish, he believes “Disney’s long-term future is incredibly bright,” which has become most important to the board and the CEO.
Credit: Disney
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Bob Iger will remain CEO of The Walt Disney Company until December 31, 2026. Under his leadership, Disney hopes to continue on the path upwards, as it “allows more time to execute a transition plan for CEO succession, which remains a priority for the Board,” Disney reported on their site.
While were not sure anyone will ever measure up to the great Walt Disney himself, fans are hopeful that Bob Iger will lead the company into a new direction of magic and happiness for all.
