The CEO, who oversaw the acquisitions of Pixar, Marvel, and Star Wars owner Lucasfilm, will remain in his role for a year longer than expected while Disney’s board continues to search for a successor, the company announced in a filing today.
Iger, 66, had previously planned to leave the company next summer, but said in February that he’d open to staying on if the company needed him.
He’s also expected to stay on at the company as a consultant for three years after departing as CEO.
His salary and other compensation will be on par with 2016, when he made $43.9 million in total compensation—including a $20 million cash bonus, $2.5 million salary, stock-based awards, and other compensation—in part because of Disney’s record-breaking year at the box office, according to a 2017 filing (pdf) Disney’s market capitalization has increased from $46 billion in October 2005, when Iger became CEO, by 223% to $148 billion at the end of Disney’s 2016 fiscal year, the company said in a filing.
But there there has been no public frontrunner to succeed Iger since chief operating officer Thomas Staggs left the company last spring.