Disney's CEO Bob Iger has been around long enough to see some of the company's biggest changes and acquisitions, including Marvel and Star Wars. Though the man holding one of entertainment's most powerful positions has hinted his possible step-down in the past, many believe that the extension this time around will be his last before he truly retires from the company.
Disney announced Iger's extended running on Thursday, March 23, in their office in Burbank, California. The extension that could run up to July 2019 is a year's extension from the previously agreed upon June 2018 retirement date, which was already the third extension for Iger, who planned to retire in 2015 and 2016. Further, though he would step down in 2019, he would still stay on board for a three-year consulting contract, where he will earn $2 million for the first two years and $1 million for the third.
This extension would likely help Disney to find a successor for Iger, especially when the man whom they initially pegged to replace Iger, Tom Staggs, stepped down from his position as the company's chief operating officer in May 2016.
Analysts believe that the extension is a good business move for Disney to keep Iger while they still do not have a clear heir to the Disney throne. This way, their shareholders will remain confident in the company that holds not just the fate of Disney, but also the fate of the Disney Parks, Pixar, Marvel, Star Wars, and cable network ESPN.
Because of the extension, it is likely that Iger will be on board to witness the unveiling of the much-awaited Star Wars Land in Disney parks.
Star Wars Hints
Star Wars had got to be one of Iger's most promising acquisitions in his reign at the top of Disney. At a recent conference in Santa Monica, Iger stressed that the company will not be digitally recreating the late Carrie Fisher in Star Wars: The Last Jedi, and he also dropped a few hints about the fate of Star Wars as well as the upcoming stand-alone Han Solo film.
Iger supposedly stated that the new film will shed some light into some of the most asked questions about the beloved character such as the story of how he came to be the captain of the Millennium Falcon and how he met his trusted friend and the audience's favorite Wookiee, Chewbacca. Further, the movie that's currently in its filming stage will reportedly explain how Han got his name.
There's no telling if Iger will stay on board long enough to see the fruition of Disney's plans for the Star Wars franchise, but for now, he will be there to oversee Disney's many projects.