The Walt Disney Co. is reportedly struggling to find a new CEO, and that means current CEO Robert Iger is facing delays getting on with his retirement.
“With 16 months until his planned retirement and no successor in sight … Iger may extend his tenure for a third time, according to people close to the company,” The Wall Street Journal reports.
Iger’s contract is currently due to run out in June 2018.
“Iger is a well-liked boss who has outperformed the market, but he has had a hard time retaining potential candidates for his job,” The New York Post reports. “Among the Disney alums that have come and gone are former chief operating officer Tom Staggs; former chief financial officer Jay Rasulo; former head of Disney-ABC TV Anne Sweeney; and Sweeney’s successor Ben Sherwood, who might have had thoughts of stepping up to the top slot.”
The company’s board reportedly has not hired a recruiter.
The Post report notes that the Disney job comes with its challenges. “Iger has been under pressure to fix one of its biggest profit centers — ESPN, which is seeing prices for NFL rights rise as ratings have fallen,” the story reports. “The company has also lost millions of subscribers over the years as pay-TV firms have shed customers and moved to skinny-bundle offerings.”