- Associated Press - Thursday, October 2, 2014

BURBANK, Calif. (AP) - The Walt Disney Co. says it has extended Robert Iger’s contract as chairman and CEO by two years through June 30, 2018.

In a statement issued Thursday, board member Orin Smith called Iger “the architect of Disney’s success.”

The 63-year-old Iger was named as the company’s CEO in 2005. Disney acquired Pixar, Marvel and Lucasfilm during his tenure, expanding its status as an entertainment and media empire. Disney also owns ABC and ESPN.

Disney’s market capitalization grew from $48.4 billion in 2005 to $150 billion since Iger became CEO.

Disney says Iger’s compensation will remain the same and he will be able to earn a performance-based retention bonus if the company meets certain financial goals.

Disney shares slipped 48 cents to $87.01 in afternoon trading. Its shares have risen 34 percent over the past year.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More

Click to Hide