(NEWSnet/AP) — Bob Iger will remain as CEO of The Walt Disney Company through the end of 2026, agreeing to a two-year contract extension.

It allows some time for the company to find his successor.

Iger rejoined Disney as CEO in November 2022, taking control from Bob Chapek. Iger  previously served as CEO and chairman 2005-20 and as executive chairman and chairman through 2021.

After Iger returned as CEO, one of his priorities was reconnecting with Disney theme park diehards to restore faith in the brand.

“Because I want to ensure Disney is strongly positioned when my successor takes the helm, I have agreed to the board’s request to remain CEO for an additional two years. 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,” Iger said.

Disney's board voted unanimously to extend Iger's contract.

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