The Walt Disney Co. has extended Robert Iger's contract as CEO for an additional 15 months, according to a report by The Hollywood Reporter.
Iger was to have stepped down as CEO in March 2015 and serve as executive chairman until June 30, 2016. But in a regulatory filing on Monday, the entertainment and media conglomerate said Iger will remain as CEO until that day, as well.
The amendment to Iger's employment agreement also provides that his "annual compensation for the extended period he will serve as CEO will be determined on the same basis as his annual compensation as CEO was determined prior to the amendment."
Specifically, Iger's base salary will remain unchanged and his targets, incentives and bonuses for fiscal 2016 will be the same as those that apply for fiscal 2015.
Iger earned $40 million in the most recent fiscal year, up 20 percent from the year prior. During the same time frame, Disney shares surged 76 percent.