Disney’s CEO Bob Chapek Gets New Long-Term Contract

deadline.com:

Disney CEO Bob Chapek has gotten a new long term contract as the the board meets this week. Directors voted unanimously to replace his current deal, which expires in Feb.

of 2023, with a new three-year agreement starting July 1.“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 Susan Arnold, Chairman of the Board. “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,” the board said.Chapek has been having a rough ride and some wondered whether a longer term future for him atop the media giant was in the cards.

Board chairman Susan Arnold came out in support of Chapek earlier this month after an executive shuffle that included the firing of Peter Rice.“Leading this great company is the honor of a lifetime, and I am grateful to the Board for their support,” Chapek said.. “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.