The Walt Disney Company Extends Robert A. Iger’s Contract

  • Print
Details
Category: Business/Financial News
Published on Friday, 24 March 2017 08:16
Written by Janet Walker

Assessing the landscape and future entertainment space, The Walt Disney Company Board of Directors announced that it has extended Robert A. Iger's contract as Chairman and Chief Executive Officer to July 2, 2019.

Iger's contract, which was due to expire July 2018, made his desire to remain on-board with the entertainment giant early even as he fended off rumors of a 2020 Presidential run. The contract fell short of the two year extensions he has received in the past and marks a shift in the boards extension strategy.

The Walt Disney Company has made no secret of its adulation and respect for Mr. Iger who has continually made smart, effective and financially lucrative decisions that benefited the company globally, and the entertainment industry, at large.

Bob Iger Open to Re-Upping at Walt Disney

Praising the 66-year-old executive Orin C. Smith, the lead Director on the Disney Board said, "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."

Mr. Smith 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."

"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," Mr. Iger said. "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."

Business News: Bob Iger and The Magic of Disney Create Lifetime Loyalty

Even as the ink on details of the agreement, which are included in the filings, is still drying, the search for a successor has always been simmering on the back burner.

As Iger continues to remain an integral part of the company the opportunity for others previously unprepared for the top spot to move forward in the much talked about successor strategy is very real and still up for grabs.

Since Mr. Iger became CEO, The Walt Disney Company has been recognized as one of the "Most Reputable Companies" in both America and the world by Forbes magazine (2006-2017); one of "America's Most Admired Companies" by Fortune magazine (2009-2017); one of the "World's Most Respected Companies" by Barron's (2009-2016); one of the "Best Places to Launch a Career" by BusinessWeek magazine (2006-2010); and as "Company of the Year" by Yahoo Finance (2013).

 

Haute News

Haute Tease

  • Twenty-Six, Including Six Lawyers, Charged in Manhattan Federal Court with Immigration Fraud Schemes

    Preet Bharara, the United States Attorney for the Southern District of New York; George Venizelos, the Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (FBI); Raymond W. Kelly, the Commissioner of the Police Department for the City of New York (NYPD); and Patricia A. Menges, the Director of the New York Asylum Office of the United States Citizenship and Immigration Services (USCIS), announced today the unsealing of nine indictments.

     

  • Breakthrough Review - A True Story That Delivers Genuine Emotion

    Breakthrough, from Fox 2000 Pictures and Twentieth Century Fox, presents a true story of bold, unwavering, faith amid impossible circumstances as a mother prays her son back from death after he falls through the ice and drowns.

     

  • The Tonight Show Transition: Ageism versus Popularity

    Well, its official, after no less than the second major late night shake-up in almost as many years, Jimmy Fallon will in fact be taking over NBC’s The Tonight Show from Jay Leno as of 2014. Of course, to call its departing host of more than twenty years anything less than polarizing would be inaccurate, but still, this just feels a bit wrong.

     

  • Brave Era Travel Silk Sheet Delivers Added Comfort Anywhere

    Brave Era Travel Silk Sheet, from owner and founder, Nichole Alden, who came up with the idea while on vacation after an emergency appendectomy landed her in a Paris hospital for five days sleeping on hospital sheets.

     

  • Ratchet & Clank Review - Charming, Thrilling, Fun Space Age Animation

    Ratchet & Clank, from Gramercy Pictures, presents an intergalactic space battle of epic proportions in a galaxy far, far, away, as two unlikely companions become heroes and with the new found fame face challenges that could bring cataclysmic disaster.

     

  • Quest for Dental Beauty Often Unfulfilling

    When the American Academy of Cosmetic Dentistry asked people what they'd most like to improve about their smile, the most common response was whiter teeth. The American Association of Orthodontists also found that nearly 90% request tooth whitening.*