Prime Allied Limited - Disney has given CEO Iger a two-year extension on his contract

CENTRAL, Hong Kong - July 28, 2023 - PRLog -- Iger's 15-year tenure as Disney's leader is regarded as one of the most prosperous periods in the company's history.

Disney's board of directors announced on Wednesday that "After careful consideration, we have concluded that it is in the shareholders' best interest to prolong his term. He has accepted our proposal to continue as CEO until the end of 2026."

Walt Disney Co. "The Board of Directors of The Walt Disney Company Prolongs Robert A. Iger's CEO Contract Until 2026."

During his initial stint at Disney, Iger led the acquisition of highly profitable franchises such as Pixar, Marvel, Lucasfilm, and 21st Century Fox. The company launched blockbuster films like "WALL-E," "Frozen," Marvel's "Avengers," and the latest "Star Wars" trilogy under his leadership. He also supervised the inauguration of the Shanghai Disney resort and the launch of Disney's streaming service, Disney+, in 2019.

However, in the subsequent years, the company's fortunes have taken a downturn, with problems arising from various quarters. Recent box office performances during the summer have been underwhelming, with ticket sales for new releases like "Elemental" and the latest "Indiana Jones" film not meeting expectations.

The company's primary television business, which has been supported by ESPN in recent years, has been struggling with budget cuts and a decline in viewership. Additionally, Disney's streaming division, primarily supported by Disney+, has yet to become profitable.

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