Bob Iger to remain Disney CEO through at least 2026

Disney CEO Bob Iger will continue to lead The Walt Disney Company through at least 2026, the company announced Wednesday.

The Walt Disney Company Board of Directors unanimously voted to extend Iger's contact for an additional two years – now through at least Dec. 31, 2026, a news release said.

Iger served as Disney's CEO and Chairman for 15 years from 2005 until he left in 2020. He returned as CEO in November 2022 after his initial successor, Bob Chapek, was fired.

Iger initially signed a two-year contract and two main tasks: to make the company financial stronger and to find a successor to lead after him.

"I believe Disney’s long-term future is incredibly bright," said Iger in a prepared statement. "But there is more to accomplish before this transformative work is complete"

"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," he said.

In February, Iger announced a restructuring of the company, including the elimination of 7,000 roles, part of a plan to reduce costs by $5.5 billion. He also announced that the company would be restructured into three core segments: Disney Entertainment, ESPN, and Disney Parks.

"We believe the work we are doing to reshape our company around creativity, while reducing expenses, will lead to sustained growth and profitability for our streaming business, better position us to weather future disruption and global economic challenges, and deliver value for our shareholders," he said a the time.

Since Iger returned, he also loosened some of the restrictions at Disney's theme parks in California and Florida, including the return of annual pass sales to Walt Disney World and Disneyland.