The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as Chairman and CEO to July 2,
2019
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.
The Walt Disney Company
Zenia Mucha
Corporate Communications
(818) 560-5300
zenia.mucha@disney.com
or
David Jefferson
Corporate Communications
(818) 560-4832
david.j.jefferson@disney.com
or
Lowell Singer
Investor Relations
(818) 560-6601
lowell.singer@disney.com
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