The Walt Disney Company has extended Bob Iger’s term as CEO for the 6th time in a storied 18-year history as chief executive. Iger will stay on as CEO through at least December 31st, 2026.
The Walt Disney Company’s choice to extend Iger’s contract beyond the original time frame indicates a successor has yet to be found. Speculated options include Parks Chairman Josh D’Amaro and Disney Entertainment Co-Chair Dana Walden. Iger’s contract extension is bad news for those candidates, as it is a clear indication Disney doesn’t feel they’re prepared for the role.
Interview Following Contract Extension
CNBC interviewed Iger the morning after his contract extension. Interviewer David Faber pressed Bob Iger on a variety of issues. Namely, media reports indicating attendance is very soft at Walt Disney World this summer. Iger denied the Wall Street Journal’s well-cited report backed by public data including hotel tax receipts and wait times. He went on to lament that Florida humidity was at fault for poor attendance on the Fourth of July, confirming WSJ’s claims of poor attendance he had just refuted.
Iger Never Leaving
Based on new filings with the SEC, Iger is set to have his C-suite office through at least 2031 due to his 5-year advisory role which kicks in after his CEO term ends. Like him or hate him, Disney’s Emperor isn’t going anywhere.