Bob Iger has extended his contract as The Walt Disney Company’s chairman and CEO to July 2, 2019.
“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, independent lead director of the Disney Board.
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 percent, compared to 144 percent 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,” 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.”
Prior to his current role, Iger served as president and CEO beginning October 2005 and president and COO from 2000-2005. Iger officially joined the Disney senior management team in 1996 as chairman of the Disney-owned ABC Group and in 1999 was given the additional responsibility of president of Walt Disney International.