Bob Iger offers to stay on at Walt Disney helm
The CEO, scheduled to retire in June 2018, could be trying to buy more time to turn around the ESPN sports network before he hangs up his boots
Los Angeles — Walt Disney CEO Bob Iger said he would remain with the company beyond his scheduled June 2018 retirement if it was good for the company, the first time he has said he might extend his tenure beyond his current contract. Iger, who turns 66 on Friday, made the comment on a call with investors after Disney reported lower sales and earnings for the first quarter, to end-December. If he extends his contract, it would be the third time he has postponed retirement. By opening the door to staying, Iger potentially buys time to turn around the struggling ESPN sports network, which has lost viewers and advertising sales as audiences embrace alternatives to traditional pay TV, like Netflix. Those struggles took centre stage again on Tuesday as the entertainment giant blamed the sports network for lower quarterly sales and profit. "While I’m confident that my successor is going to be chosen on a timely basis and chosen well, if it’s in the best interest of the company for me to ex...
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