Report: Iger May Stay Longer at DisneyMonday, February 6, 2017
Walt Disney Co. Chief Executive Robert Iger may extend his stay as head of the company, according to media reports.
The Wall Street Journal first reported Monday that Iger may delay his June 2018 departure from the Burbank entertainment and media giant as the company has no successor in place.
Former Chief Operating Office Thomas Staggs was considered the likely successor to Iger until he abruptly left the company in April. There has been no word from Disney on the progress or process to find a new chief executive, the Wall Street Journal reported.
Iger has been head of Disney since September 2005. During the years of Iger’s leadership, Disney has been on a strong growth trajectory. The company got in early on distributing content via Apple Inc.’s iTunes, bought Pixar Animation Studios, Marvel Entertainment and LucasFilm Ltd., built a new China theme park, saw revenues grow from $34.3 billion to $52.5 billion and the share price hit $100 for the first time ever.
Iger, who turns 66 this week, originally announced he would retire in March 2015. That was later extended to June 2016 to coincide with when he would step down as board chairman. In October 2014, he extended his contract an additional two years as the Disney board sought to keep Iger in place based on the company’s financial and creative success.
Shares closed Monday down 73 cents, or less than a percent, to $109.57 on the New York Stock Exchange.