Under his existing contract with the company, Robert A. Iger was set to remain CEO until April 1, 2015. After stepping down as CEO, he was to serve as executive chairman for more than a year to insure a smooth succession. Now, Disney’s board has extended his time as CEO to at least June 30, 2016, the Associated Press notes.
Iger became CEO of the media giant in 2005. During this tenure, Disney purchased Pixar and Marvel film studios and has revamped its theme parks.
The company also paid $4 billion to acquire the Star Wars franchise from creator George Lucas last year.
With his longer tenure, Iger will be CEO during the launch of a new series of Star Wars films. The first movie, directed by J.J. Abrams, is expected to hit theaters in 2015.
Shares of Disney rose slightly in pre-market trading on Tuesday.