Walt Disney's board on Wednesday extended the term of Chief Executive Officer Robert Iger till the end of 2026.

The board agreed to extend Iger's contract by two years as it ensures "continuity of leadership during the company’s ongoing transformation," Disney said in a statement.

Iger returned to Disney as CEO in November 2022, less than a year after he retired, saying he had agreed to serve as CEO for two more years.

Disney shares were flat in after hours trading.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh Kuber)