The Walt Disney Company has announced that Bob Iger will remain CEO for two additional years, extending his contract through Dec. 31, 2026.
The Walt Disney Company Board of Directors voted "unanimously" to extend Iger's contract, seven months after he returned as CEO, the company said in a press release Wednesday.
"On my first day back, we began making important and sometimes difficult decisions to address some existing structural and efficiency issues, and despite the challenges, I believe Disney's long-term future is incredibly bright," Iger said in a press release. "But there is more to accomplish before this transformative work is complete"
Iger committed to ensuring Disney is strongly positioned when an eventual long-term replacement succeeds him as CEO.
"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," he said.
Iger returned to the company in November of 2022 after serving as CEO and Chairman from 2005 to 2020, and then as Executive Chairman and Chairman of the Board through 2021.
"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 G. Parker, Chairman, The Walt Disney Company.
The Walt Disney Co. is the parent company of this ABC station.