Disney has announced that they are extending Bob Iger's tenure as CEO through 2026.Since becoming the head of the organisation in November, Iger has overseen a period of significant restructuring, resulting in a number of job losses.On Thursday, David Faber from CNBC's "Squawk Box" will be conducting an interview with Iger at 8 a.m. ET.The Walt Disney Company has decided to extend Bob Iger's tenure as CEO by two years, taking him through the end of 2026. In February, Iger stated he had no intention to remain in his role beyond 2024. He returned to Disney in November, supplanting Bob Chapek, and stated his purpose was to mentor a successor. Iger expressed his commitment to the succession process in a statement on Wednesday, noting the importance of a successful transition. He has previously extended his tenure as CEO on four occasions between 2013 and 2017.The media industry has been tumultuous in the past decade, with numerous streaming services entering the market and traditional cable subscriptions waning in popularity. To remain competitive, Disney has initiated layoffs and restructured its streaming platforms to try and save money. It has also seen the departure of long-time Chief Financial Officer, Christine McCarthy.Mark Parker, Disney's Chairman, commented on Iger's extended tenure, saying "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."Ahead of his interview on CNBC's "Squawk Box" on Thursday, Bob Iger published a memo to Disney employees, expressing his pride in the company and his enthusiasm for the road ahead.Shares of Disney were mostly unchanged following the announcement.
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