The House of Mouse is keeping Bob Iger in the C-suite longer than originally planned.

Iger has agreed to remain as CEO of the Walt Disney Company till the end of 2026—a contract extension that adds two years to his tenure, which was originally set to end in 2024. 

The veteran executive returned to Disney’s helm in an unexpected rejig last November, replacing his handpicked successor Bob Chapek. Iger previously served as CEO from 2005 to 2020 before retiring after more than four decades at Disney. 

The two-fold reasoning behind the contract extension is to “ensure the successful completion of [Disney’s ongoing] transformation while also allowing ample time to position a new CEO for long-term success,” said board chair Mark Parker in a release.

In the past seven months since his return, Iger has overseen significant restructuring at the media giant, including cutting 7,000 jobs this year and streamlining the business across three new segments—Disney Entertainment; ESPN; and Disney Parks, Experiences and Products. 

In a CNBC interview this morning, Iger said the company is working out its linear strategy and is open to potentially selling networks that “may not be core to Disney,” such as ABC. 

He also expressed criticism of the ongoing writers strike in Hollywood and the potential actors’ strike. “We’ve talked about disruptive forces on this business and all the challenges we’re facing, [such as] the recovery from COVID, which is ongoing; it’s not completely back,” he said. “This is the worst time in the world to add to that disruption.”

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