Disney CEO Bob Chapek hasn't exactly had a smooth ride since taking Disney's reins in 2020. From the COVID-19 pandemic shuttering theme parks across the country to a reported feud with former CEO Bob Iger, Chapek has come to be seen as an embattled executive moving from one crisis to another.
Nevertheless, Chapek received one big vote of confidence today, with Variety reporting that Disney's board of directors has voted unanimously to extend his contract for three more years.
"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," chairman Susan Arnold said in a statement.
"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 for The Walt Disney Company, and the Board has full confidence in him and his leadership team."
The extension comes despite criticism stemming from his handling of major decisions like releasing Black Widow to both streaming and theaters simultaneously, leading star Scarlett Johansson to sue the entertainment giant. Chapek also found himself trapped between angry employees and the Republican Party amid the battle over Florida's "Don't Say Gay" bill.
Chapek expressed gratitude for the board's support and said leading Disney was the "honor of a lifetime."
The next three years will continue to test Chapek's leadership a Disney recovers from the pandemic; tries to continue growing Disney Plus amid fierce competion, and leans more than ever on its stable of well-known properties.
In the short-term, though, Chapek and the rest of Disney can enjoy the pending windfall from Thor: Love and Thunder, which is set to release on July 8.
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Kat Bailey is a Senior News Editor at IGN as well as co-host of Nintendo Voice Chat. Have a tip? Send her a DM at @the_katbot.