Read on: TheWrapTheWrap
Walt Disney Company Chairman and CEO Bob Iger told investors and analysts that he is “open” to staying in his job after his contract expires in June 2018.
On a Tuesday afternoon conference call following Disney’s first-quarter earnings release, Iger first tried to sidestep a question about his successor with a joke, but acknowledged that he would be amenable to staying on past the end of his contract if it would be in the best interest of the company.
Former Disney Chief Operating Officer Thomas Staggs, long presumed to be Iger’s heir apparent, stepped down last April after failing to get assurances from the company’s board that he would be tapped for the role. Since then, nobody has emerged as a likely successor to Iger.
Disney’s stock has more than tripled since Iger took over the top job in October 2005, and he leaves big shoes to fill. A big wallet too: Iger hauled in $43.9 million in total compensation last year, which was actually a $1 million pay cut from 2015. Iger’s 2016 pay included a $2.5 million base salary, $17 million in stock options and $20 million in incentives.
Disney will hold its annual shareholder’s meeting next month, where the CEO succession plan will almost certainly be high on the agenda.