Disney Board of Directors extend Bob Chapek's contract as CEO for three more years

The Disney board of directors has unanimously voted to extend Bob Chapek’s contract as CEO for three more years.

Chapek, 63, has had a nearly 30-year career at Disney. Chapek became the 7th CEO in Disney’s nearly 100-year history just weeks before the company’s theme parks and the majority of its content production was shut down due to Covid-19.

Prior to becoming CEO, Chapek served as Chairman of Disney Parks, Experiences and Products since the segment’s inception in 2018, and prior to that was Chairman of Disney Parks and Resorts since 2015.

Chapek also led Disney Consumer Products and served as president of Distribution for The Walt Disney Studios, and president of Walt Disney Studios Home Entertainment.

“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,” Susan Arnold, the chairman of Disney’s board, said 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. 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 said, “Leading this great company is the honor of a lifetime, and I am grateful to the Board for their support. 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.”

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