Walt Disney Co (DIS) CEO Bob Iger Agrees to Stay a Little Longer

Walt Disney Co (NYSE:DIS) CEO Bob Iger will remain as boss of the company for longer than planned.

Walt Disney Co (DIS)The entertainment giant had revealed earlier this year that Iger would be leaving in the near future, but Disney announced Thursday that they are extending his contract until at least July 2, 2019.

He has served as the CEO of the company for 11 years, helping to expand the company’s presence in film and its theme parks that continue to draw impressive figures, while lengthening the lines at these amusement venues.

“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,” Orin C. Smith, independent lead director of the Disney Board said in a press release on Thursday.

Iger said that leading the company has been a great privilege for him and he’d be happy to continue on as the boss for two more fruitful years. He added that Disney’s best days are still ahead.

Additionally, the extra time will give Iger and the company enough time to execute a proper transition of power.

DIS stock grew 0.1% Thursday.


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