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Bloomberg

Walt Disney Extends CEO’s Contract

Oct 3, 2014  •  Post A Comment

The Walt Disney Co. has extended the contract of the giant media company’s chief executive. Bloomberg reports that the company extended Bob Iger’s contract by two years, keeping him at the helm until 2018.

“The move keeps in place a manager who has spearheaded high-profile acquisitions like Marvel, turned around the company’s historic animation business and tripled Disney’s stock price,” the piece reports.

The article adds: “At the same time, the company has decided to name a chief operating officer next year — and that executive, most likely coming from within, would be Iger’s heir apparent, according to a person close to the company. Giving a time frame to the internal candidates, Chief Financial Officer Jay Rasulo and Parks & Resorts Chairman Thomas Staggs, makes them less likely to bolt before a decision is made.”

Rasulo and Staggs remain the top candidates to replace Iger, the story notes. Staggs has overseen the introduction of Disney’s MyMagic+ electronic wristbands and reservation system in Florida, and has overseen its Shanghai resort, which is scheduled to open next year.

Rasulo recently took over supervision of Maker Studios, a short-form video producer, and focused on financial moves such as increasing dividends.

BOB IGER

Bob Iger

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