Walt Disney boss Bob Chapek will stay accountable for the beleaguered Mouse Home after the board unanimously voted to offer him a three-year contract extension Tuesday.
Chapek had succeeded Robert Iger in February 2020, simply months earlier than the pandemic pressured the corporate to shutter its theme parks.
He was rapidly embroiled in controversy over Disney’s botched response to Florida’s “Don’t Say Homosexual” invoice and the stunning ouster of Disney TV content material chief Peter Rice.
However Tuesday’s choice — which extends Chapek’s contract to 2025 — served to squelch rumors Iger could return anytime quickly.
“Disney was dealt a troublesome hand by the pandemic, but with Bob on the helm, our companies — from parks to streaming — not solely weathered the storm, however emerged ready of power,” Disney chairwoman Susan Arnold stated.
“On this essential time of development and transformation, the Board is dedicated to holding Disney on the profitable path it’s on right now, and Bob’s management is essential to reaching that objective. Bob is the suitable chief on the proper time for The Walt Disney Firm, and the Board has full confidence in him and his management crew.”
The choice comes simply weeks after Chapek put in Dana Walden as common leisure chief after he fired Rice. Insiders perceived the dismissal as an influence transfer given Rice was perceived as angling for Chapek’s job.
“Main this nice firm is the glory of a lifetime, and I’m grateful to the Board for his or her help,” Chapek stated in an announcement. “I began at Disney nearly 30 years in the past, and right now have the privilege of main one of many world’s biggest, most dynamic firms, bringing pleasure to tens of millions all over the world. I’m thrilled to work alongside the unimaginable storytellers, workers, and Solid Members who make magic each day.”
