Iger to remain Disney’s CEO till June 2016

Iger to remain Disney’s CEO till June 2016Walt Disney has said that it is extending Robert Iger's tenure as chief executive officer until June 2016, which would postpone his planned succession during the next year.

The company said in a statement that, Mr. Iger will continue to work as both the chairman and CEO until 2016. Under earlier plans, he was to leave the title of CEO on April 1, 2015 but the company extended the tenure citing the need for continuity and his record of success at the world's largest entertainment company.

Many believe that Chief Financial Officer Jay Rasulo and Tom Staggs, who works as the head of parks and resorts division might have the potential to replace Iger at the top job. The company also altered its compensation plan to create new positions, such as chief operating officer or president. The company has recorded growth under the leadership of Iger.

The shareholder returns have risen 193 per cent during his tenure compared to a rise of 54 per cent for the Standard & Poor's 500 Index. Mr. Iger was appointed as the CEO of the entertainment giant in September 2005.

Orin Smith, Disney's independent lead director said, "Now, Disney will continue to have the full benefit of Mr. Iger's leadership as CEO and chairman for the duration of his tenure.