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Walt Disney Co. CEO Bob Iger delays retirement

Leah Zanolla | Posted: Jul 2, 2013 | Updated: Oct 19, 2014 - 9:25:27 AM
Disney has announced that Robert Iger will not retire in 2015 as originally planned. Iger is currently the Walt Disney Company's Chairman and CEO. In 2011, Iger signed a new contract with the company that had him stepping down as chief executive in March 2015 and as executive chairman in mid-2016. Now, the board has asked him to stay in both roles until June 30, 2016. It is presumed that they would like to keep a successful leader in place as Shanghai Disneyland is finished, and decisions are made on how best to utilize Lucasfilm's Star Wars brand.

Orin C. Smith, the independent lead director of Disney's board, released a statement: "Now Disney will continue to have the full benefit of Mr. Iger's leadership. (He is able) to consistently deliver against a strategy of producing high-quality branded content, technology innovation and international expansion."

Iger's paycheck will not change with this recent contract development. His take-home pay in 2012 was $37.1 million, which does include stock options and bonuses in addition to his salary.

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