The Walt Disney Firm is as soon as once more extending CEO Bob Iger’s contract, highlighting the absence of an apparent successor to some of the highly effective males in media and leisure.
Iger, 66, has prolonged his contract from June 2018 to July 2, 2019. By that date, he can have spent 14 years as the corporate’s chief govt.
“Main this nice firm is an incredible privilege, and I’m honored to have been requested to proceed serving as CEO by means of July 2, 2019,” Iger said in a statement.
“Even with the unimaginable success the Firm has achieved, I’m assured that Disney’s greatest days are nonetheless forward,” he continued, “and I stay up for persevering with to construct on our confirmed technique for progress whereas working with the Board to establish a successor as CEO and guarantee a profitable transition.”
The information didn’t come as a shock to Hollywood insiders. Disney has been with out an apparent inheritor to Iger since former COO Tom Staggs abruptly left the corporate final yr. Disney’s board stated on the time that it will “broaden the scope of its succession-planning course of,” however has but to supply any indication of its plans.
There has additionally been some scuttlebutt in Hollywood that Iger might take into account working for president in 2020. The Hollywood Reporter reported in March that Iger “has instructed associates he’s contemplating their nudges that he make a run for president in 2020 as a Democrat.”
Sources who know Iger properly instructed CNNMoney that any presidential bid was unlikely, particularly given the absence of a successor and Iger’s reluctance to topic himself and his household to the pains of campaigning towards President Trump.
When requested by CNN in mid-March if he was contemplating working, he demurred. “I’ve a full time job proper now, it is referred to as CEO of the Walt Disney Firm, and I do not assume the notion of working for President is one thing anybody considers both on an element time foundation or a frivolous manner,” he stated.
Iger had initially deliberate to step down as Disney CEO in 2015, however has repeatedly prolonged his contract since then. Iger earned $43.9 million in Disney’s latest fiscal yr, and $46.5 million the yr earlier than.
“Given Bob Iger’s excellent management, his report of success in a altering media panorama, and his clear strategic imaginative and prescient for Disney’s future, it’s apparent that the Firm and its shareholders will probably be greatest served by his continued management because the Board conducts the strong technique of figuring out a successor and guaranteeing a easy transition,” stated Orin C. Smith, the Unbiased Lead Director of the Disney Board.
Chloe Melas contributed to this report.
CNNMoney (Los Angeles) First revealed March 23, 2017: 11:55 AM ET