With still no obvious successor in sight, Walt Disney Co chairman and CEO Bob Iger last week had his contract extended through July 2, 2019.
This is the third contract extension for Iger who took over in 2005 and since then Disney’s share price has surged more than 200%.
However it will be the third and final time, Iger promises.
"We could use more time to not only spend on succession but to create a better transition," Iger said during a tech and entertainment conference.
That was echoed by Orin Smith, independent lead director of the Disney board, who said the company is ‘will be best served by (Iger’s) continued leadership as the board conducts the robust process of identifying a successor and ensuring a smooth transition.’
There has been a string of possible successors for CEO who have come and gone over the past few years.
The most recent candidate and widely considered favorite for the top job, COO Tom Staggs, left Disney last year.
