Disney extends CEO Bob Iger’s contract through 2026

When Bob Iger returned to lead Disney, he said he’d only stay two years. Now it will be at least four.

Disney extended Chief Executive Officer Robert Iger’s contract by two years as the experienced leader who came out of retirement in 2022 battles long-term challenges to its film and television businesses.

The board said in a statement that it aimed to maintain “continuity of leadership during the company’s ongoing transformation.” Iger said he’s staying longer “because I want to ensure Disney is strongly positioned when my successor takes the helm.” He continued: “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.”

The dilemma of who is suited to replace Iger, a vastly experienced corporate leader and longtime Disney executive who previously served as CEO from 2005-2020, is considerable. Disney has formed a committee dedicated to the issue and there has been much change in the executive ranks of late.

Peter Rice, the British executive who ran Walt Disney Television and was co-chair of Disney Media Networks until Chapek fired him a year ago, is exploring life as a creator and recently struck a non-exclusive pact with A24 to produce and co-finance film and TV.

Iger’s restructure recently put Dana Walden and Alan Bergman at the helm of the Disney Entertainment film and TV business. Senior EVP and CFO Christine McCarthy recently departed to take a family medical leave of absence.