By Thomas Buckley | BloombergBurbank-based Walt Disney Co. extended the contract of Chief Executive Officer Bob Iger for another two years, giving the longtime executive more time to implement his turnaround plan and find a successor. Under the new arrangement, Iger will remain CEO through Dec. 31, 2026, the company said Wednesday in a statement. Iger, 72, returned to run the entertainment giant in November after previously serving as CEO for 15 years. As a result, Disney dominated the movie industry with hit after hit in 2010s. After briefly making Chief Financial Officer Tom Staggs his second in command, the company named parks chief Bob Chapek as CEO in February 2020.

Source: CNN July 12, 2023 21:46 UTC