The Walt Disney Company’s board of directors has unanimously voted to extend Bob Chapek‘s contract as chief executive officer for three years.
“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,” said board chair Susan Arnold in a statement.
“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,” she added.
Vote of confidence in Chapek’s leadership
“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.”
Chapek has worked for Disney for nearly 30 years. He became the company’s CEO in February 2020, just weeks before Disney’s theme parks were shut down due to the pandemic. Chapek succeeded Bob Iger.
Before becoming CEO, Chapek served as chairman of Disney Parks, Experiences and Products. Prior to that, he was chairman of Disney Parks and Resorts.
Chapek became CEO in February 2020
“Leading this great company is the honor of a lifetime, and I am grateful to the board for their support,” said Chapek.
“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,” he added.
The extension is a major vote of confidence in Chapek’s leadership. Earlier this year, he apologised for Disney’s “silence” on Florida’s ‘Don’t Say Gay’ bill after the company was criticised for its response.