when Bob Iger resigned and Bob Chapek took his place as CEO of The Walt Disney Company, in early 2020, just weeks before the COVID-19 pandemic closed Disney theme parks and theaters, among other things, important things they do operate Disney the Mouse House. round. After more than two years at the helm of Disney, the company’s board of directors voted to extend Chapek’s contract for three years. Yes, he’s not going anywhere anytime soon.
At a meeting of Disney’s board of directors on Tuesday, its members unanimously voted to keep Bob Chapek as Disney’s CEO until July 2025, according to CNBC . His contract was originally supposed to expire in February 2023 before the decision was made.
At 63, Bob Chapek remains the seventh CEO of House of Mouse after working for the company for nearly 30 years, previously as president of Disney Parks in the experience and merchandising division. Susan Arnold, Chairman of the Disney Board of Directors who was appointed in late 2021, said this about the decision:
The pandemic dealt a major blow to Disney, but with Bob at the helm, our businesses, from parks to streaming, not only weathered the storm, but emerged from a position of strength. During this important period of growth and transformation, the Board of Directors is committed to keeping Disney on the path to success it is in today, and Bob’s leadership is critical to achieving this. Bob is the right leader at the right time for The Walt Disney Company and the Board of Directors has full confidence in him and his management team.
Bob Chapek was CEO when Disney made massive use of its Disney + streaming service, which quickly became one of the most powerful streaming platforms. Disney + would be the second most subscribed streaming site, behind Netflix, and could exceed Netflix’s figures in few years. Disney + has become a new home for franchises like Marvel, Star Wars, Pixar and Disney Animation to expand the stories of beloved characters or introduce new ones.
To facilitate the handover of power, Bob Iger remained president of the company for nearly two years. According to a report released earlier this year, Iger and Chapek reportedly had “tension” it was palpable, to the point that they hardly spoke during this time.
During Chapek’s time as CEO, it was difficult to hold the position. Among Disney Parks that have been closed for a long time, Chapek has introduced a new annual ea passport program fastpass program called Genie + , the latter widely criticized. Also, Chapek has recently been under hot water his initial response to the “Don’t Say Gay” bill. in Florida.
As Chapek will remain CEO of The Walt Disney Company for the foreseeable future, we will keep you updated on everything Disney-related, including the upcoming Walt Disney World attractions here at Gossipify.
Source: Cinemablend
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