Disney extends Bob Iger’s contract until 2019
The Walt Disney Company Board of Directors announced today that it has extended Bob Iger’s contract as Chairman and Chief Executive Officer to July 2, 2019. “Given Bob Iger’s outstanding leadership, his record of success in a changing media landscape, and his clear strategic vision for Disney’s future, it is obvious that the Company and its shareholders will be best served by his continued leadership as the Board conducts the robust process of identifying a successor and ensuring a smooth transition,” said Orin C. Smith, Independent Lead Director of the Disney Board.
He continued: “Mr. Iger has led The Walt Disney Company to unprecedented success during his 11 years as CEO, driving Disney to new creative heights, expanding the Company’s global reach, fostering technological innovation, and delivering year-after-year of record financial results. During his tenure, Mr. Iger has created enormous value for shareholders, with total shareholder return of 448%, compared to 144% for the S&P 500, and a dramatic increase in the Company’s market capitalization to $177 billion from $46 billion.”
Bob Iger said, “Leading this great company is a tremendous privilege, and I am honored to have been asked to continue serving as CEO through July 2, 2019. Even with the incredible success the Company has achieved, I am confident that Disney’s best days are still ahead, and I look forward to continuing to build on our proven strategy for growth while working with the Board to identify a successor as CEO and ensure a successful transition.”
What do you think about the way Disney has gone since Bob Iger became Chairman and Chief Executive Officer? Are you happy to hear that he’ll remain in his current role until 2019? Do you like the recent move to live-action versions of animated classics like The Jungle Book, Beauty and the Beast and the upcoming Mulan and Aladdin? We want to hear from you. Leave your thoughts in the comments or tweet us @ComingSoonnet!
(Photo Credit: Taylor Hill/FilmMagic, Getty Images)
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