Disney extends CEO Robert Iger's contract
Walt Disney Co.’s board extended chairman and chief executive Robert Iger’s contract through June 2018, keeping him at the helm of the media and theme park company two years longer than he previously planned. Disney announced the contract extension on Thursday but did not say who would succeed Iger, who has led the company to record profits. He plans to name a chief operating officer next year, a person with knowledge of Iger’s thinking said, setting up a likely successor. Tom Staggs, head of the company’s theme parks division, and chief financial officer Jay Rasulo are considered leading candidates to replace Iger, Wall Street analysts say. The media company has thrived since Iger became CEO in 2005. He oversaw the acquisitions of movie studios Pixar, Marvel and Lucas Film, which will release a new “Star Wars” movie in December 2015. A theme park in Shanghai also is slated to open next year.
Read the Economic Times news report here.