Disney’s Bob Iger extends contract into 2018
Bob Iger can’t let go.
The Disney boss, who took over from Michael Eisner in 2005, has no plans on leaving the Mouse House anytime soon — agreeing on Thursday to a second contract extension that will keep him on the job through mid-2018.
The move is a reversal of sorts — a July 2013 extension had him stepping down as CEO and chairman in June 2016.
The successful CEO, 63, had been rumored to be a contender for Commissioner of Major League Baseball and was even said to have an eye on becoming governor of California.
Those job will have to wait, it seems.
Iger is expected to name a chief operating officer and heir apparent next year — that is likely to end a years-long guessing game about who will succeed Iger.
“[Iger] is simply too well positioned to leave now,” BTIG analyst Richard Greenfield told The Post. “The Disney creative juices are surging and no company leverages great content better than Disney.”
Wall Street is mostly expecting either the theme parks boss, Thomas Staggs, or Chief Financial Officer Jay Rasulo to become Disney’s next “Lion King.”
Another potential successor, Anne Sweeney, co-chair of Disney Networks, announced in March she was stepping down to pursue TV directing.
Iger selected ABC News boss Ben Sherwood to be her successor. Two years in that role could give Sherwood time to prove he’s the man for the top slot.
Iger’s annual pay packet is $34.3 million, though more details about his performance incentives are expected to emerge in a fresh regulatory filing on Friday.
Disney is in the midst of capitalizing on the success of its movie operations, from “Frozen” to Marvel’s “Guardians of the Galaxy,” and parks expansion in China.
Iger has increased total shareholder return some 311 percent since he took over, versus 92 percent for the S&P 500, Disney’s lead independent director, Orin Smith, said in a statement.