Disney Extends CEO's Contract

Disney (NYSE: DIS  ) has secured the services of its CEO for another 15 months. The company announced that it has extended the tenure of Robert Iger as its chief executive and board chairman through June 30, 2016. He had originally planned to step down from the former position on April 1 of the preceding year to serve purely as chairman.

The terms of Iger's contract remain the same, as does his compensation package. His total compensation amounted to just more than $40 million in 2012.

In the press release announcing the news, Disney said that, looking past Iger's tenure, "the board remains focused on effective succession planning, and will continue to develop a sound and appropriate process for ensuring a smooth management transition."

Iger has been CEO of the entertainment giant since 2005, and was elected its chairman in 2012.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2519370, ~/Articles/ArticleHandler.aspx, 4/19/2014 6:41:35 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

TREND TRACKER: Get Rich When the Web Goes Dark

It's time to say "goodbye" to your Internet! One bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it the single largest business opportunity in the history of capitalism… The Economist is calling it "transformative"... but you'll probably just call it "how I made my millions." Big money is already on the move. Don't be too late to the party – find out the 1 stock to own when the Web goes dark.