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Disney extends CEO Iger to 2018

03 october 2014, 13:21
0
Photo courtesy of hdwallpapers.in
Photo courtesy of hdwallpapers.in

US media-entertainment group Disney said Thursday it has extended the contract for chief executive Robert Iger through June 2018, AFP reports.

"Bob Iger is the architect of Disney's current success, with a proven history of delivering record financial results for the company quarter after quarter and year after year," the lead independent member of the board of directors, Orin Smith, said in a statement.

"Under his tenure, Disney has reached unprecedented creative and financial heights, driving the stock price to record levels and creating extraordinary value for shareholders."

Iger, 63, took the reins as CEO at the Walt Disney Co. in 2005, and added the title of chairman in 2012.

Disney's market value has grown from $48 billion when he took over to around $150 billion today.

Smith added that "Iger's vision and strategy for the company led to the successful acquisitions of Pixar, Marvel and Lucasfilm, the resurgence of Disney animation, and the dramatic expansion of its parks and resorts around the world, positioning the company for continued long-term growth."

Iger's contract terms will be unchanged, but he will have the opportunity to earn a performance bonus, the California company said.

The company is best known for its Hollywood studios including Walt Disney Studios and Miramax, the ABC television network and its theme parks and resorts around the world.


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