Disney extends contract for Bob Chapek by three years

Disney has just extended Bob Chapek’s contract for an additional 3 years.

Related – Abigail Disney Mounts Shareholder Fight to Reduce Bob Chapek’s Paycheck

Disney has just issued the following statement:

“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, in a statement Tuesday.

“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.”

Chapek’s contract was set to expire in February 2023, three years after he unexpectedly took the reins from Bob Iger.

Chapek has worked for the Walt Disney Company for nearly 30 years and is its seventh CEO.

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