Monday, July 01, 2013

Extending the Contract

When you're popular with the right people, you're popular.

Walt Disney's board on Monday extended Bob Iger's tenure as its chief executive by 15 months, allowing him to remain both CEO and chairman of the media giant through June 30, 2016. ...

The board asked Iger to extend his term as CEO, Smith said, "given his outstanding leadership, and to provide continuity of Disney's corporate strategy."

Keeping Iger in both jobs through June 2016 gives the Disney board more time to choose his successor and ensure a smooth transition, Wunderlich Securities analyst Matthew Harrigan said. Disney suffered through a bruising battle when Iger's predecessor, Michael Eisner, was forced out of the company. ...

It's good to be chief and have influence in the right places. It's also good not to have a man named Disney after your hide.

Also, too, it's very helpful that the stock of the company over which you preside has been shooting up like a booster rocket.


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