The Walt Disney board has extended Bog Iger's stay as Chairman and CEO through June 2018.
This will be the third time that his position at the company has been extended, after previously announcing departure dates from the company.
Iger's last extension with the company was to be until June 30 2016, which was announced back in July 2013. Disney had previously announced in October 2011 that Iger would step down as CEO on March 31 2015, and then serve as Chairman until June 30 2016.
“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, Independent Lead Director of the Disney Board. “Mr. Iger’s vision and strategy for the company led to the successful acquisitions of Pixar, Marvel and Lucasfilm, the resurgence of Disney animation, and the dramatic expansion of its parks and resorts around the world, positioning the company for continued long-term growth. Given Mr. Iger’s outstanding record to date, it is obvious that shareholders and the company will be best served by his continued leadership, which is why the Board of Directors has asked him to extend his contract for two years, to June 30, 2018. I am pleased to report that Mr. Iger has accepted.”
“I’ve had the privilege of being the CEO of this great company for nine years and am thrilled to have the opportunity to continue through June 2018,” Iger said. “I’m very excited about what lies ahead, including the release of our Star Wars films and the launch of Shanghai Disneyland, and I’m honored to continue working with our talented management team and the 175,000 dedicated people who make this company what it is today.”
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