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It was recently revealed that the CEO of Disney, Bob Iger, has extended his lucrative contract, which means he will be holding his position until 2027. He replaced Bob Chapek and was made CEO of the company in November 2022.
It was announced that Iger would remain CEO for approximately two years, and the plan was to bring in a worthy successor after his stint ended, but it certainly looks like that was a lie.
People on the internet are not happy with the news of his contract extension. Fans and writers believe that Iger was responsible for Disney's dramatic downfall. Furthermore, writers on strike are appalled by the massive salaries of CEOs like him and how they just continue to rise.
One fan on Twitter believed that Disney writers would not be paid anytime soon if he remained in charge.
Netizens believe it's going to get worse for Disney as Bob Iger continues to remain in charge
Bob Iger was at the pinnacle of the company for 15 years but did not extend his contract. He was soon replaced by Bob Chapek, but his run as CEO was declared a failure. Disney decided to bring Iger back in November 2022.
After extending his contract till 2027, Disney chairman Mark G. Parker said:
"Time and again, Bob has shown an unparalleled ability to successfully transform Disney to drive future growth and financial returns, earning him a reputation as one of the world’s best CEOs."
"Bob has once again set Disney on the right strategic path for ongoing value creation, and to ensure the successful completion of this transformation while also allowing ample time to position a new CEO for long-term success, the Board determined it is in the best interest of shareholders to extend his tenure, and he has agreed to our request to remain Chief Executive Officer through the end of 2026," he continued.
However, fans on Twitter were furious to learn about this, and they reacted to the news in a post shared by Discussing Film.
Things haven't been easy for Disney in the past few months, as they have been facing heavy losses and several internal issues. The majority of the blame has been poured on Bob Iger, as fans believed he was the sole reason the company was decaying.
Fans said that Disney will continue to suffer until and unless he leaves. They said that extending his contract would come back to haunt the company. He has been particularly criticized for his salary. An average writer's salary is nothing compared to his.
Bob Iger will remain Chief Executive Officer through the end of 2026.
