Beginning this July 1st, Bob Chapek will enter a new deal at Disney. Not only will he continue to serve as the company’s CEO, but he’ll remain in charge for at least another 3 years.
The news will most certainly surprise most, especially members of the LGTBQ community, considering his handling of Florida’s “Don’t Say Gay” Bill. The fact that the deal comes at the end of Pride month adds insult to injury.
On the topic of extending Chapek’s leadership deal, Chairman of the Board Susan Arnold said, “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,” a statement from the rest of the board also read. and the Board has full confidence in him and his leadership team,” the board said.
Originally, Chapek, who was named CEO in February of 2020, was only slated to stay in power until February 2023. While the details of his contract and salary continue to be discussed, at the very least, his new deal secures him a place in the House of Mouse until 2025.
Prior to his stint as CEO, Chapek was in charge of Disney Parks, Experiences and Products. He eventually went on to run Disney Consumer Products and even served as president of Distribution for Walt Disney Studios and Walt Disney Studios Home Entertainment.
Chapek released a statement about his new deal today as well. “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,” he said. “Leading this great company is the honor of a lifetime, and I am grateful to the Board for their support.”
While Chapek’s first “term” has been overshadowed by the pandemic and socio-political scandal, since it doesn’t appear that he’s going anywhere anytime soon, it will be interesting to see what he does to take the company in new and interesting directions. After all, Bob Iger’s legacy is marked by the numerous acquisitions he spearheaded including Pixar, Marvel, and Fox.