Disney CEO Bob Iger will stay for at least two more years

Disney CEO Bob Iger has extended his contract through 2026, the company said in a press release. That means he’ll be staying at the company longer than he originally said back when he returned to the company. After his initial run as CEO from 2005 until 2020, Iger returned to Disney late last year in a surprise announcement, and at the time, he promised to only stay for two years and find a potential successor before his tenure was over.

In a statement, Iger said he’s staying longer “because I want to ensure Disney is strongly positioned when my successor takes the helm.” He continued: “The importance of the succession process cannot be overstated, and as the Board continues to evaluate a highly qualified slate of internal and external candidates, I remain intensely focused on a successful transition.”