Chief executive officer Bob Iger needs more time to bring the magic back to Disney (NYSE: DIS). The entertainment giant, which called Iger out of retirement late last year, has extended his contract by two years. Iger originally was supposed to stay through 2024, then hand over to a successor.

So far, the CEO has announced a reorganization plan, including major cost cuts. But the stock has failed to take off, gaining only about 2% so far this year. Could Iger's longer commitment to the job ensure better results and make the stock a buy? Let's find out.

Image source: Disney.

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Source Fool.com