Media
Disney CEO Iger Inks 5-Year Deal
TSC Staff
02/01/08 - 04:31 PM EST
SAN FRANCISCO -- Disney(DIS) signed Chief Executive Robert A. Iger to a new five-year contract.
The media and theme park conglomerate said Friday that Iger's contract will end Jan. 31, 2013. His old deal would've expired in September 2010.
Iger became CEO of Disney in September 2005, following the increasingly tempestuous tenure of longtime chief Michael Eisner.
Shares of Disney, which closed Friday off 2.7% to $30.64, steadily climbed after Iger took the helm, but began slumping during the past seven months. In total, Disney's stock has now risen 21% in Iger's two-and-a-half year term.
Disney also signed a new five-year deal with CFO Thomas O. Staggs, to expire April 1, 2013.