Disney extends CEO Bob Iger's contract through 2026
This, dare I say, popular and well-known company that is still unhappy with its price tag and "transformation" is keeping its CEO, who has had a good track record in his position, for another few years.
Walt Disney's $DIS board of directors yesterday extended CEO Robert Iger's contract by two years as the seasoned leader retired in 2022. He soon returned in late November 2022, promising to stay on to rebuild the business, and seeking a more durable replacement after the company ousted Bob Chapek, Iger's hand-picked successor.
"There remains work to be done before this transformation is complete," Iger said in a statement, adding that the board continues to interview internal and external candidates for CEO.
The terms of his contract include the possibility of an annual incentive bonus of five times his base salary. In his previous contract, he was entitled to an estimated total compensation of $27 million per year.
The terms of his contract include the opportunity to earn an annual incentive bonus equal to five times his base salary. In his previous contract, he was entitled to an estimated total compensation of $27 million per year.
The company still faces many challenges, but their name is big and I believe they could return to the limelight. With this news, $DIS stock rose during off hours, but we'll see what this CEO comes up with over the next two years. 😊 I have them in my portfolio, bought when they were under $90 and intend to hold.
I didn't expect anything else and that's why I was also increasing my position. Bob Iger has certainly earned and enjoyed a well-deserved retirement and yet he still has the motivation to take this company even further than he did in his previous tenure. While I am under no illusions and suspect that the money offered still plays a role for him, I suspect that it is more important for him in the current situation to show that he still has it and Disney will outlive us all.
But it's going to take a lot of work to do that, especially on content, because that's what matters in the first place and if you have mediocre service and product, even the best management has no chance of saving you from encroaching competition.
I'm glad they're going to keep him. I have faith in Iger, especially since he's managed to get Disney back on its feet in the past.