The Walt Disney Co. board has voted to extend Chief Executive Officer Bob Chapek's contract for another three years.
In a statement from Susan Arnold to CNBC, the Chairman of the board said "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. 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. Bob is the right leader at the right time for The Walt Disney Company, and the Board has full confidence in him and his leadership team."
"Leading this great company is the honor of a lifetime, and I am grateful to the Board for their support," said Chapek, Chief Executive Officer. "I started at Disney almost 30 years ago, and today have the privilege of leading one of the world's greatest, most dynamic companies, bringing joy to millions around the world. I am thrilled to work alongside the incredible storytellers, employees, and cast members who make magic every day."
Chapek took control of the Walt Disney Company in 2020 following Bob Iger's retirement and has been at the company for more than 30 years.
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