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Disney CEO Bob Chapek’s contract extended by unanimous vote

Yahoo Finance Video

Bob Chapek will be staying on as CEO of Disney after the company's board unanimously voted to extend his contract for three more years.

Video transcript

SEANA SMITH: We're going to get to some breaking news from Disney. The company's board voting to extend CEO Bob Chapek's contract for three more years. In a statement, Disney chair Susan Arnold saying that, quote, 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.

She went on to say that Chapek's leadership is key to keeping Disney on the path it's on now. Chapek took over from longtime CEO Bob Iger back in February 2020, just weeks before the COVID pandemic started. Disney shares moving slightly to the upside on the news, up just about 3/10 of a percent.