The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as Chairman and CEO to July 2, 2019
March 23 2017 - 11:00AM
Business Wire
The Walt Disney Company (NYSE:DIS) Board of Directors announced
today that it has extended Robert A. Iger’s contract as Chairman
and Chief Executive Officer to July 2, 2019.
“Given Bob Iger’s outstanding leadership, his record of success
in a changing media landscape, and his clear strategic vision for
Disney’s future, it is obvious that the Company and its
shareholders will be best served by his continued leadership as the
Board conducts the robust process of identifying a successor and
ensuring a smooth transition,” said Orin C. Smith, Independent Lead
Director of the Disney Board.
Mr. Smith continued: “Mr. Iger has led The Walt Disney Company
to unprecedented success during his 11 years as CEO, driving Disney
to new creative heights, expanding the Company’s global reach,
fostering technological innovation, and delivering year-after-year
of record financial results. During his tenure, Mr. Iger has
created enormous value for shareholders, with total shareholder
return of 448%, compared to 144% for the S&P 500, and a
dramatic increase in the Company’s market capitalization to $177
billion from $46 billion.”
“Leading this great company is a tremendous privilege, and I am
honored to have been asked to continue serving as CEO through July
2, 2019,” Mr. Iger said. “Even with the incredible success the
Company has achieved, I am confident that Disney’s best days are
still ahead, and I look forward to continuing to build on our
proven strategy for growth while working with the Board to identify
a successor as CEO and ensure a successful transition.”
Details of the agreement will be included in a Form 8-K filed
today.
Since Mr. Iger, 66, became CEO, The Walt Disney Company has been
recognized as one of the “Most Reputable Companies” in both America
and the world by Forbes magazine (2006-2017); one of “America's
Most Admired Companies” by Fortune magazine (2009-2017); one of the
“World's Most Respected Companies" by Barron’s (2009-2016); one of
the “Best Places to Launch a Career” by BusinessWeek magazine
(2006-2010); and as “Company of the Year” by Yahoo Finance
(2013).
Forward Looking Statements:
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are made
on the basis of our views and assumptions regarding future events
and business performance as of the time the statements are made.
Management does not undertake any obligation to update these
statements. Actual results may differ materially from those
expressed or implied. Such differences may result from actions
taken by the Company, including restructuring or strategic
initiatives, as well as from developments beyond the Company’s
control including international, political, or military
developments, health concerns, technological developments and
changes in domestic and global economic conditions that may affect
our businesses generally. Additional factors are set forth in the
Company’s Annual Report on Form 10-K for the year ended October 1,
2016 under Item 1A “Risk Factors,” and subsequent reports.
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The Walt Disney CompanyZenia MuchaCorporate Communications(818)
560-5300zenia.mucha@disney.comorDavid JeffersonCorporate
Communications(818) 560-4832david.j.jefferson@disney.comorLowell
SingerInvestor Relations(818) 560-6601lowell.singer@disney.com
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