6/28, 10:33 PM (Source: TeleTrader)
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Disney extends CEO Chapek's contract by 3 years

The board of directors of the Walt Disney Company unanimously voted on Tuesday to extend CEO Bob Chapek's contract by three years.

"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, chairman of the 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," she added.

Chapek has worked at Disney for 29 years and took over as CEO in 2020 after Bob Iger stepped down.

Baha Breaking News (BBN) / NP