The Walt Disney company said on Monday that CEO and chairman Bob Iger will keep his position for an additional 15 months beyond his original plan to retire in March 2015. Iger will now keep both positions through June 30, 2016.
Back in October 2011, the company announced that Iger planned on retiring from the CEO position in March 2015, but would stay on as chairman through 2016. by keeping both positions, the movie mogul gets to see many of the projects he’s responsible for come to fruition.
“For nearly eight years as chief executive officer, Bob Iger has proven he has the unique ability to drive creative and financial success at the world’s preeminent entertainment company,” Disney Board director Orin C. Smith said in a statement, reports ABC News.
“Mr. Iger’s ability to consistently deliver against a strategy of producing high-quality branded content, technological innovation and international expansion has repeatedly resulted in record revenue, net income, and earnings per share for the company,” Smith added.
Iger has been CEO at the studio since 2005. He oversaw the purchases of Pixar in 2006 and Marvel in 2009, two acquisitions that have paid off handsomely. In October 2012, Disney bought Lucasfilm for $4.05 billion and launched plans for a new Star Wars film by 2015.
By staying on, Iger will see the release of the new Star Wars film and more Marvel releases, like The Avengers 2 in May 2015.
According to The Hollywood Reporter’s sources, Disney decided to keep Iger as CEO after he decided not to run for the California governor’s office. He’s also interested in overseeing the Shanghai Disney theme park opening in 2016. Disney wouldn't confirm the report.
