As expected, Robert Iger will remain as Disney’s CEO and chairman while the company searches for a replacement.
The Walt Disney Company board announced Thursday that it had extended Iger’s contract to July 2, 2019. This is Iger’s third extension since he took job in 2005.
The board cited Iger’s “outstanding leadership, his record of success in a changing media landscape and his clear strategic vision for Disney’s future.”
Iger’s previous contract ran into mid-2018. But last April, one of the leading candidates to succeed Iger, Disney COO Thomas Staggs stepped down.
Iger, 66, became Disney’s president and chief operating officer in 2000. He added the CEO title in 2005 after Michael Eisner departed. Iger became chairman in 2012.
Last year, Disney became the first studio to take in more than $7 billion in worldwide box office receipts, with hits such as “Finding Dory,” “Rogue One: A Star Wars Story,” and “The Jungle Book.”
During Iger’s tenure, Disney’s stock price has quadrupled.
“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 transition,” Iger said in a statement.
Iger will also serve as a consultant for three years after his departure.