Disney CEO Bob Chapek will be leading the company until at least 2025, as the company’s board vote to extend his contract.

It’s not been the easiest of tenures for current Disney CEO Bob Chapek. He landed the top job on the eve of a global pandemic, taking over from a man – Bob Iger – who had overseen a transformation of Disney’s fortunes. And in more recent times, Chapek has stumbled through the likes of Scarlett Johannson’s Black Widow remuneration (leading to a loud legal threat), pushback from Pixar employees over what’s permissible in their films (leading to a walkout at one stage), and a piss-poor response to Florida’s ‘Don’t Say Gay’ legislation.

On the flipside, Chapek has inherited Iger’s last big project – Disney+ – and that appears to be going great guns, and he’s also just overseen a reshuffle of the senior team at the company.

Still, Chapek’s contract has been set to come to an end in early 2023, and there had been murmurs of speculation he might be needing to sort his CV out. Not so. The Disney board has voted to extend his deal by a further three years, meaning Chapek will be leading Disney until mid-2025 at the very least.

Disney announced that the decision from its board of directors was “unanimous”.

More challenges clearly lie ahead for Disney, not least the aggressive targets it’s set itself for its streaming platform. That, and further problems in the state of Florida. For now, Chapek won’t have to worry about how to pay the mortgage though. Must be something of a relief for him, that.

THR

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