When Iger stepped into the CEO role at Disney for a second time in 2022, he stressed that the job would only last two years as the company searched for a suitable replacement. In a statement Wednesday about his contract extension, Iger said he has had to make “difficult decisions to address some existing structural and efficiency issues,” but he believed Disney’s “long-term future is incredibly bright.” Iger also emphasized that he remained intent on finding the company’s next CEO.
“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, Disney’s chairman. “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.