The Walt Disney Company’s Board of Directors has unanimously voted to extend Bob Chapek’s contract as CEO for another three years.
“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,” said Susan Arnold, Chairman of the Board, according to Businesswire, “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 was announced as former Chairman and CEO Bob Iger’s replacement in February 2020, just as the Covid-19 pandemic began to spread across the world. The former Chairman of Disney Parks, Experiences, and Products, had to lead the Mouse House through an extraordinarily unprecedented time where every Theme Park, Resort, movie theater, and studio had to shut down for days, weeks, and months at a time. He oversaw the meteoric growth of the company’s streaming service, Disney+, and much more. However, the post-pandemic days of reopenings and return to movie theaters have been marked with some controversy as Disney’s stock price lost nearly 50% of its year-to-year worth, and fans criticize his company for its current role in an ongoing “culture war,” especially in Florida.
“Leading this great company is the honor of a lifetime, and I am grateful to the Board for their support,” said Bob Chapek, Chief Executive Officer. “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.”
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