Bob Iger Has No Plans to Renew Disney CEO Contract

During the Disney earnings call, which brought with it lower than expected earnings, cancellation of Disney Infinity and the shuttering of the entire Disney Interactive console publishing videogame business, and stock drops, also saw word from CEO Bob Iger that his plans haven't changed. When his contract expires June 2018, Iger's plan is to be done.

Tom Staggs was meant to be his successor, but surprisingly left the company last month. Iger, in response to a question about sticking around, said, "The board is very involved in the succession process as it has been for some time and it believes it has ample time to identify a successor. I don't currently have any plans to extend beyond the current expiration date of June of 2018."

Iger has been instrumental in the successful integration of Pixar, Marvel, and Lucasfilm since becoming CEO in 2005. The news for Disney should turn around as analysts predict their biggest box office summer of all time with the already successful Jungle Book and Captain America: Civil War, and the upcoming Alice Through the Looking Glass, Finding Dory, The BFG, and Pete's Dragon.

Iger's contract was due to expire and 2015 and then in 2016 before being altered to 2018.

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