Business CEOs can come and go in the blink of an eye. People thought Bob Chapek wouldn’t last at Disney, but today, the company’s board voted to keep him in the business pie, with a new deal beginning on Friday which will run through to 2025.
News of the deal is detailed in an article published by Deadline Hollywood. While Chapek has had a rocky term due to the COVID-19 pandemic, lawsuits with top talent like Scarlett Johansson, the initial response to perceived anti-LGBTQ+ legislation in Florida, and Lightyear not doing well at the box office, Disney chair Susan Arnold and the rest of the company’s board say all is improving.
“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. 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 and the board has full confidence in him and his leadership team.”
Chapek himself says he is grateful to the group for their support, and that working where he does is a privilege.
“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.”
The exact details of his new deal, like salary and other compensation, are still being worked out as of this story’s filing.