Walt Disney has extended Robert A. Iger’s contract as Chairman and Chief
Executive Officer 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.
Mr. 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%, compared
to 144% for the S&P 500, and a dramatic increase in the Company’s market
capitalization to $177 billion from $46 billion.”
this great company is a tremendous privilege, and I am honored to have
been asked to continue serving as CEO through July 2, 2019,” Mr. 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
Details of the agreement will be included in a Form 8-K filed today.
Since Mr. Iger, 66, became CEO, The Walt Disney Company has been
recognized as one of the “Most Reputable Companies” in both America and
the world by Forbes magazine (2006-2017); one of “America’s Most Admired
Companies” by Fortune magazine (2009-2017); one of the “World’s Most
Respected Companies” by Barron’s (2009-2016); one of the “Best Places to
Launch a Career” byBusinessWeek magazine (2006-2010); and as “Company of
the Year” by Yahoo Finance (2013).