Originally posted on Variety:
The Walt Disney Co.’s board has extended Robert A. Iger’s tenure as CEO and chairman by 15 months beyond his previously announced retirement date, extending his deal to June 30, 2016, under his existing contractual terms as CEO.
The move, announced Monday after the stock market closed, was not a surprise. Speculation has grown this year that Iger was backing away from his 2011 pledge to relinquish the CEO title in March 2015.
“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, the independent lead director of the Disney board in a statement.