BURBANK (CNS) – With 16 months until his planned retirement and no successor in sight, Walt Disney Co. Chief Executive Robert Iger may extend his tenure for a third time, The Wall Street Journal reported today, quoting people close to the company.
Disney’s board has made no public comments about finding a new CEO since former chief operating officer and presumed Iger successor Tom Staggs departed last spring.
Inside Disney, few think any executives are currently poised to ascend, according to the Journal. There also is a widespread belief that it would be difficult for outsiders to get their hands around the world’s largest media conglomerate in less than a year and a half.
A further extension of Iger’s tenure may be discussed March 3, when Disney holds its annual shareholder meeting, and its directors typically meet.
March also will mark a year since Staggs decided to leave after learning Iger, who also is chairman, and the rest of the board had lost confidence in him, people with knowledge of his departure told the Journal
“The prevailing theory is that Bob will have to extend to train his replacement,” one Disney executive told the newspaper. “There will be a steep learning curve for whoever comes in, and no one believes Bob or the board wants to set someone up to fail.”