Current CEO Of The Walt Disney Company (NYSE:DIS), Bob Iger, Contract Extended By The Board Of Directors

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By Joseph Carducci on October 4, 2014 Entertainment

According to reliable sources, one of the first things that Bob Iger plans to do; is to appoint someone to work very closely with himself, who will be groomed to take his place, when he does plan to retire.

A clear successor to Bob Iger has not yet been appointed, but Jay Rasulo, the current chief of finances, and Tom Staggs, the head of the theme parks, are currently being considered for the role of chief operating officer.

Bob Iger has been CEO of The Walt Disney Company (NYSE:DIS) for the last nine years, when he succeed Michael Eisner in September 2005. Mr. Iger is respected and revered as an effective leader, and one of the most successful CEOs in the industry.

Shareholder’s return has increased by more than 300%, since Bob Iger took over the company in 2005, and the market cap for The Walt Disney Company (NYSE:DIS) rose from $48.4 billion to $150 billion.

Iger has a positive reputation of setting clear business strategies that are based on technological innovation, production of a high-quality products and international expansion of the brand name.

Orin C. Smith, a member on the Board of Directors for The Walt Disney Company (NYSE:DIS), said that while Bob Iger has been in charge, Disney had reached unprecedented financial and creative heights, which in turn has driven stock prices to an all-time high, and increased shareholder value to extraordinary levels.

Mr. Iger’s past records precedes him, and it is in the best interests of The Walt Disney Company (NYSE:DIS) and its shareholders, that Bob Iger continues on in his current role. The amazing company growth, led by Mr. Iger, is what prompted the Board of Directors to offer him this contract extension.

Much of The Walt Disney Company (NYSE:DIS) resources are used around filming companies including, but not limited to, Walt Disney Animation Studios, Fantasy Faire and Marvel’s movies regarding superheroes.

The films slated for the 2015/2016 season include: Star Wars – Episode VII; Finding Dory; Big Hero 6; Alice in Wonderland 2; The Avengers – the Age of Ultron; Inside Out; Tomorrow Land; Ant-Man; and the Good Dinosaur.

Mr. Iger’s purchase deals regarding Marvel, Lucasfilm and Pixar, along with expanding the theme parks around the world, has put The Walt Disney Company (NYSE:DIS) in a prime position for continuous and steady growth.

The Walt Disney Company (NYSE:DIS) is known to not only embrace change, but they are the leaders to implement new technologies.

Mr. Iger’s annual salary during 2013 was $34.3 million, and he will retain this annual compensation throughout the remainder of his contract. Financial bonus earnings are also possible, if certain financial goals are met during the next five years.

The Walt Disney Company (NYSE:DIS) opened the market today at 88.10, and by 2:00 Eastern Daylight Time, 88.68 was the trading price. The 52 week forecast ranges between 63.10 and 91.20, with a market cap of 149.40 B. Currently, the company is 64% inst. owned.