Robert Iger is going to remain as CEO until 2015

Disney CEO Robert Iger is going to maintain his position for a longer time as he signed a contract to remain as the CEO until 2015.  After March 2015, he is going to serve the company as an executive chairman for another 15 months to help break in a new chief executive, according to Disney.

The definite end to what is going to be a decade-long term proposes the eventual promotion of one of his two contiguous lieutenants, either Jay Rasulo, 55, the chief financial officer, or Tom Staggs, 50, chairman of the parks division. The two old hand executives switched jobs in late 2009, in a move that groomed both to take over one day.

Iger, 60, assume his position as CEO of The Walt Disney Co. in September 2005 following the dismissal of Michael Eisner after a shareholder revolt directed by Roy Disney, the late nephew of the company’s founder.

A former weatherman who have risen through the ranks of ABC, Iger has organized some of the company’s biggest purchases, which includes the $7.4 billion purchase of animated movie studio Pixar in 2006 and the $4.2 billion possession of comic book giant Marvel in 2009.

Disney said its total shareholder come back during his tenure is five times greater than that of the S&P 500. The stock improved 41 percent during that time.

Iger makes his way to the Disney franchise when the house of Mickey Mouse bought Capital Cities/ABC for $19 billion in 1995. That transaction also brought pay TV juggernaut ESPN to Disney.

One of the most notable that Iger’s did during his tenure as chief executive was to right relations with Steve Jobs, the just-departed Apple Inc. co-founder.  Jobs worked with Iger in bringing ABC shows to iTunes and winded up being Disney’s largest shareholder and go-to adviser during its acquisition of Pixar.

Iger is also going to assume another position in 2012 when John Pepper retires at the 2012 shareholder meeting in March. The board is going to select an independent lead director.

The board pleased that the company has managed to secure the longer-term continuation of Bob’s exclusive blend of experience and management skills.

In 2010, Iger got granted a pay package prized at $28 million, up 30 percent from a year earlier.

He collected no upfront signing bonus for his latest contract.

However, a securities filing said he is going to receive a yearly salary of $2.5 million, up from $2 million, and a motivation bonus target of $12 million annually through fiscal 2015, up from the target of $10 million earlier. Disney’s financial year ends in late September or early October.