Disney Chairman and CEO Bob Iger has extended his contract as the company’s top executive through mid-2019, The Walt Disney Company announced Thursday.
- Disney CEO Bob Iger extends contract through mid-2019
- Contract extension was not unexpected
- Company has been looking for a successor
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The move, which had been expected for some time, gives Disney more time to find its next successor.
“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, a Disney board director, in a news release.
During a Disney quarterly earnings call earlier this year, Iger signaled he’d be willing to extend his tenure.
Disney’s board has been searching for Iger’s successor for more than two years.
Iger initially planned to step down in 2016, but his 2014 contract was extended another two years through 2018.