Bob Iger to Remain Disney CEO, Chairman Through June 2016

(Image credit: ABC)

The Walt Disney Co. announced on Monday that it extended Bob Iger's tenure as chief executive and chairman through the expiration of his contract June 30, 2016.

Iger, 62, was named CEO on Sept. 30, 2005, overseeing the company during its acquisition of Pixar in 2006, Marvel in 2009 and Lucasfilm, announced last October. The contract extends his tenure 15 months beyond his previously announced retirement date as CEO in 2015. Under that 2011 contract, he was to have remained executive chairman until mid-2016.

The Walt Disney Co. is the parent of ABC News.

"For nearly eight years as chief executive officer, Bob Iger has proven he has the unique ability to drive creative and financial success at the world's preeminent entertainment company," said Orin C. Smith, independent lead director of the Disney Board, in a statement.

Smith noted that since Iger became CEO, the company's market capitalization has risen to $113.7 billion from $48.4 billion.

"Mr. Iger's ability to consistently deliver against a strategy of producing high-quality branded content, technological innovation and international expansion has repeatedly resulted in record revenue, net income, and earnings per share for the company," Smith said.

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