Bob Iger, the man behind Disney’s acquisitions of Pixar, Marvel and Lucasfilm, will remain at the media conglomerate for two more years, the board of directors announced Thursday.
Extending his contract through June 30, 2018, Iger will remain chairman and CEO of Walt Disney Co. past the originally planned end date in 2016, keeping the same compensation plan with additional opportunity for a performance-based bonus.
“Bob Iger is the architect of Disney’s current success, with a proven history of delivering record financial results for the company quarter after quarter and year after year,” said Orin C. Smith, the independent lead director of the Disney board. “Under his tenure, Disney has reached unprecedented creative and financial heights, driving the stock price to record levels and creating extraordinary value for shareholders. He has transformed Disney’s culture and empowered its businesses to effectively capitalize on evolving markets and new technologies, making Disney a company that doesn’t merely embrace change, but leads it.”
Last year, Iger extended his contract an additional 15 months, which would have ended in June 2016. Before that, his plan was to step down in April 2015 before the acquisition of Lucasfilm persuaded him to stay at Disney to see it through.
He has been Disney’s CEO since 2005, when he replaced Michael Eisner.
Read more at Variety.
Brief Take: Disney also has an ambitious film slate for the next two years, which probably came into consideration when trying to keep the leadership consistent for its next round of big branded films. Next year, not only will the Avengers franchise keep going with Age of Ultron and Captain America 3, but it also has planned Star Wars: Episode VII, The Jungle Book, Cinderella, Ant-Man, Big Hero 6 and Tomorrowland.
[Image courtesy of Disney]
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