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Disney CEO Bob Chapek gets new three year contract

Disney CEO Bob Chapek gets new three year contract



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Disney's board of directors unanimously voted to extend Chapek's contract as CEO for another three years, the company said Tuesday. His new contract begins July 1 and runs until 2025.The news is notable not only because Chapek is one of the biggest and best known media companies in the world, but also because the company has experienced some very public missteps since Chapek began his tenure in February of 2020. This has led to some questions around Hollywood on whether Disney would stick with Chapek once his contact came to an end next year. Disney's board removed all doubt on Tuesday. "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," Disney board chair Susan Arnold said 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."Read MoreArnold added that "Bob is the right leader at the right time" for the company and the board has "full confidence in him and his leadership team."


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