Disney: Iger Extends His Comeback for Two More Years

In a thoroughly unsurprising move, the Disney board extended CEO Bob Iger’s contract for two years beyond the original two-year term until the end of 2026. As we predicted upon his return last year, the original two-year term was too short for Iger to both correct the ship at Disney and simultaneously run a search for his successor. While we believe that Iger and the board both expect his term to end in 2026, we would not be surprised if the two sides decide to run it back for another two years. We are maintaining our $145 fair value estimate.