Bob Iger’s sequel to the Walt Disney Co. simply renewed for a couple of extra seasons.
disney dis,
mentioned Wednesday night time that its board of administrators had prolonged the chief government’s contract by way of December 2026, praising Iger’s “profitable management and ongoing strategic transformation of the corporate.”
Disney shares rose 0.6% within the prolonged session on Wednesday following the information.
The board of administrators voted unanimously, and the extension not solely offers management continuity, but in addition extra time for a CEO succession plan, Disney mentioned.
Disney misplaced Chief Monetary Officer Christine McCarthy final month, and Kevin Lansberry, government vp and CFO of Disney Parks, Experiences and Merchandise, served as interim CFO.
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Iger returned to Disney in November after serving as CEO and chairman of the board from 2005 to 2020, after which as government chairman and chairman of the board till 2021. His return as CEO was to final two years.
As Disney CEO, Iger replaces Bob Chapek, who left over unpopular choices like streaming new motion pictures on Disney+ the identical day they hit theaters.
Disney shares are up 3.8% this yr, in contrast with a roughly 16% achieve for the S&P 500 SPX.
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