The Walt Disney Company's board has unanimously voted to extend CEO Bob Iger's contract through the end of 2026 — an extension of two years.
In a statement, Iger said he believed Disney's "long-term future is incredibly bright" and said he remained focused on finding a successor.
"Because I want to ensure Disney is strongly positioned when my successor takes the helm, I have agreed to the Board's request to remain CEO for an additional two years. 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.
Iger returned to his post as CEO in November 2022, after initially stepping down to retire. Iger first ran Disney as CEO from 2005 to 2020.
When Iger returned in November 2022, Disney said he agreed to return to the company for only two years and would "work closely with the board in developing a successor to lead the company at the completion of his term."
- This is breaking news and will be updated.
