Disney's Iger To Remain As CEO Through '16; Will Leave CEO, Chair Posts At Same Time
Disney Chair & CEO ROBERT IGER "will remain" as CEO through June '16, which is "15 months longer than expected," according to Daniel Miller of the L.A. TIMES. Iger had been "slated to step down from the chief executive role after March 31, 2015." He now will "vacate both posts on the same day in 2016." By extending Iger's CEO deal, Disney also "gives itself more time to choose a successor for him" (L.A. TIMES, 7/2). However, in N.Y., Brooks Barnes writes keeping Iger as CEO "does not signal that Disney needs more time to groom a successor." Instead the move "reflects an if-it's-not-broken-don't-fix-it strategy." Barnes notes Iger's "compensation will not change" (N.Y. TIMES, 7/2). The WALL STREET JOURNAL's Ben Fritz notes Iger has "never named" a president or COO, and there has been "no indication whether he plans to put anyone into such a post" before '16 (WALL STREET JOURNAL, 7/2). VARIETY's Dave McNary wrote the move was "not a surprise," as "speculation has grown this year that Iger was backing away" from his '11 pledge to relinquish the CEO title (VARIETY.com, 7/1). The HOLLYWOOD REPORTER's Masters & Bond cited sources as saying that the move came after Iger "weighed and decided against a possible run for governor of California." A source said that Iger "likely wants to see through the completion" of the company's $3.7B theme park in Shanghai, which is set to open in '16. Iger also is "believed to have a desire to oversee the first of the newly acquired Lucasfilm's new 'Star Wars' movies" (HOLLYWOODREPORTER.com, 7/1).