Walt Disney Co. Chief Executive Robert Iger has extended his role at the entertainment company. Bloomberg reports that Iger will stay through June 2016, giving him an additional 15 months in the role and delaying the need for the company to pick a successor.
Iger will continue as both the chairman and CEO until that time, Disney said. He had been scheduled to give up the CEO title on April 1, 2015,
Bloomberg notes, "The company cited a need for continuity and Iger’s record of success. Analysts have long cited Chief Financial Officer Jay Rasulo and Tom Staggs, who leads the parks and resorts division, as probable replacements. The two swapped roles in January 2010."
During Iger’s time as CEO, Disney has created total shareholder return of 193%, beating the S&P 500 Index’s 54% during the same time, said Disney independent lead director Orin Smith. Iger was tapped for the role in September 2005.