san francisco Actually, Disney boss Bob Iger should get the group on track and quickly present a long-term CEO. Now the company surprisingly extended Iger’s term by another two years until the end of 2026. “Bob has proven time and time again that he is capable of successfully transforming Disney like no other,” wrote Disney Chairman Mark G. Parker on Wednesday evening. It is in the interest of the shareholders that Iger runs the company longer.
Iger previously ran Disney for 15 years. His successor Bob Chapek had conflicts with employees, fans and the government in Florida, where Disney is headquartered. Last year, the board of directors fired Chapek and originally brought the 72-year-old Iger back for just two years.
Iger said, “Since returning to Disney just seven months ago, I’ve examined virtually every facet of our business.” His work isn’t done yet. “There is more to do before this transformative work is complete,” Iger said.
“I think he’s one of the best CEOs I’ve ever seen,” media investor Steve Pagliuca said in an interview with Bloomberg. “Disney shareholders should be thrilled.”
However, Disney stock hardly moved after the contract extension was announced. The papers rose after hours by around 0.8 percent.
Iger’s previous tenure as Disney CEO was marked by numerous successful acquisitions. Shortly after taking over as CEO in 2005, he acquired animation studio Pixar, studio Marvel, known for superheroes, and parent company of the Star Wars franchise, Lucasfilm.
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First publication: 07/12/2023, 07:57