He is also searching for a new CFO to succeed Christine McCarthy, who stepped aside last month. Iger has since dramatically reorganized the company and cut costs, including some 7,000 employees, all in a bid to make its streaming business profitable and to stabilize a declining linear TV business. “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.” “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,” he said. In a statement of his own, Iger said the extension came at the board’s request. At the time, Iger inked a two-year deal to serve as CEO “with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term,” the company said at the time.Īs of now, there is no successor in place, though the board has created a committee specifically focused on finding one. Iger returned as CEO of Disney in November of 2022, in a shock move that saw his predecessor (and successor) Bob Chapek ousted by the company’s board of directors. “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.”īob Iger Taps Former Disney Execs Kevin Mayer, Tom Staggs to Advise on Legacy TV Assets “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 Mark Parker, chairman of The Walt Disney Company. 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,” the company said. says that the venerable CEO has signed a contract extension, one that will keep him at the helm of the media and entertainment giant through 2026. The Bob Iger era at Disney will continue beyond its scheduled end date.
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