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Bob Chapek To Continue As CEO As Disney Adds Contract Renewal – $DIS $DIA

By John F. Heerdink, Jr.

As per reports, the board of Walt Disney Co (DIS) has unanimously voted to extend Chief Executive Officer Bob Chapek’s contract for three years showing a major vote of confidence in his leadership. Chapek’s current contract was set to expire in February.

In February 2020, Chapek, 63, became Disney’s CEO, succeeding Bob Iger just months before the COVID-19 pandemic troubled the company’s businesses from theme parks to television, movies, and live sports. 

Recently, some analysts and media executives were doubtful about Chapek’s position when he upset employees by initially refusing to condemn a bill in Florida that limited LGBTQ discussion in schools. Chapek also shocked Hollywood when he ousted respected TV executive Peter Rice earlier this month.

“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. 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,”  stated board chair, Susan Arnold.

Dow 30 Component, The Walt Disney Company (DIS), and its subsidiaries is a diversified worldwide entertainment company that operates in four business segments: Studio Entertainment, Media Networks, Parks and Resorts, and Consumer Products & Interactive Media. To learn more about this Dow 30 Component, The Walt Disney Company (DIS), and to continue to track its progress please visit the Vista Partners Walt Disney Company, Coverage Page.

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(Read Original Story: UPDATE 2-Disney's board backs CEO Chapek, extends his contract for three years in Reuters)


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