Walt Disney said Chief Executive Robert Iger has agreed to stay on in his position through 2026, extending his second term as the company contends with challenges from its pivot to streaming, a box office slump and ongoing cost cuts.
The entertainment giant’s board unanimously voted to extend Iger’s contract by two years. Its independent members said the extension provides continuity as the company’s transformation continues and provides more time to prepare a transition plan for CEO succession.
Iger, 72, returned to Disney in November after former CEO Bob Chapek, whom Iger selected as his successor, was ousted from the position last fall. At the time, Disney’s board said that Iger would stay for two years, setting its strategic direction while helping to pick a successor to lead the company longer term.
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