Disney CEO Bob Iger Contract Extended To 2018

It looks like Disney has decided to extend current CEO Robert Iger's contract to June 2018, and execs at Disney are both happy and relieved about keeping their prized CEO who has done wonders for the company. 

With a 311% increase for Disney shareholders it makes sense that Iger will continue his chief executive and chairman title until June 2018.

As speculation of the CEO running for California governor has circulated, his second extension with Disney (which was announced by the Walt Disney Company, Thursday) seems to dismiss any speculation.

The question is, who will take his place after June 2018? There seems to be two heirs to the Disney throne, and it's between Thomas Staggs (Disney Parks chairman) and current CFO Jay Rasulo, the Los Angeles Times reports. Mr. Iger has been a man many have sought after, not only for the governor position. Many sports executives wanted him to become Major League Baseball's next commissioner. Which seems like a far different position then his current role at Disney.

With a $40 million 2012 contract, it doesn't seem as though the Disney leader will be headed anywhere soon. And many want to keep it that way, they respect his leadership.

The Walt Disney Company's Orin C. Smith, a director on the board states, "Bob Iger is the architect of Disney's current success, with a proven history of delivering record financial results for the company quarter after quarter and year after year."

Since Iger's 2005 takeover not only have shareholders been impressed but movies have emerged on top. He has even hit the gaming area hard allowing Pixar, Disney and Marvel characters to combine.

"He has transformed Disney's culture and empowered its businesses to effectively capitalize on evolving markets and new technologies, making Disney a company that doesn't merely embrace change, but leads it," continued Smith.