The Walt Disney Board of Directors has extended Bob Iger’s contract as Chairman and CEO through June 30, 2018.
Iger, 63, has been at the helm of The Walt Disney Company since 2005 and his contract was originally set to expire in 2016.
“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 in a press release from The Walt Disney Company. “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.”
Since he became CEO, total shareholder return has increase 311 percent and Disney’s market capitalization has risen to $150 billion. Under his leadership Disney has acquire Lucasfilm, Marvel, and Pixar in addition to expanding theme parks and resorts around the world.
The Walt Disney Company has also been named one of the “Most Reputable Companies” in America and globally by Forbes Magazine every year since 2006, and was named Yahoo’s “Company of the Year” in 2013.
Iger’s contract extension includes the same annual compensation terms as his current contract, and if certain financial performance goals are met over a five-year period ending with fiscal year 2018 he has the opportunity to earn a performance-based retention bonus.
