West Center Street

Disney extends Bob Iger’s tenure as CEO

The Walt Disney Company Board of Directors on July 1 announced it extended Robert A. Iger’s tenure as CEO and Chairman through the expiration of his contract on June 30, 2016 under his existing contractual terms as CEO.

Iger, 62, was named chief executive on September 30, 2005, he has led the company to record financial results and significant strategic growth with the acquisitions of Pixar, Marvel and Lucasfilm, major investments in the company’s Parks and Resorts business, and expansion into key international markets. During Iger’s tenure, The Walt Disney Company has repeatedly been recognized as one of the “World’s Most Respected Companies” by Barron’s, ranking No. 2 in the magazine’s just-released 2013 survey; one of the “World’s Most Admired Companies” by Fortune; and No. 1 among “America’s Most Reputable Companies” in a 2013 independent survey conducted by consulting firm Reputation Institute and published by Forbes.

“For nearly eight years as chief executive officer, Bob Iger has proven he has the unique ability to drive creative and financial success at the world’s preeminent entertainment company,” Orin C. Smith, independent lead Director of the Disney board, said in a statement.

“Disney has hit new heights during Mr. Iger’s tenure, with total shareholder return of 193% that dramatically exceeds the S&P 500s 54%, and a market capitalization that has risen to $113.7 billion from $48.4 billion when he became CEO in 2005,” Smith added. “Mr. Iger’s ability to consistently deliver against a strategy of producing high-quality branded content, technological innovation and international expansion has repeatedly resulted in record revenue, net income, and earnings per share for the company.”

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