Disney CEO Bob Iger is getting a one-year contract extension.
The Walt Disney Co. on Thursday ended any speculation that Iger would retire this year, extending contract to July 2, 2019.
Iger's base salary of $2.5 million will be unchanged, but he gets a $5 million signing bonus, according to filings with the Security Exchange Commission. He made a total of $43.9 million in 2016, when tacking on stock awards and other perks.
Speculation had been swirling over whether the 66-year-old Iger would extend his contract. There's no obvious successor at Disney since Iger's heir apparent, COO Tom Staggs, left last year.
Since taking the top role in 2005, Iger has acquired Star Wars owner LucasFilm, Pixar and Marvel and driven improvements in Disney's consumer products and parks division, most recently with the opening of Shanghai Disneyland in 2016.
In February, Iger indicated he was amenable to extending his contract.
"If it's in the best interest of the company for me to extend my term, I'm open to that," he said during a conference call with analysts.
Orin Smith, the lead independent director of Disney's board, said in a statement Thursday that Iger's "strategic vision" and successful record show that it is in the best interest of Disney to keep Iger aboard while they seek his successor.
Jean Smart, Ariana Grande, Michael Keaton among hosts for “SNL” season 50
Fresh off her Emmys win, Jean Smart will kick off the landmark 50th season of "Saturday Night Live."
NBC on Thursday announced the lineup of hosts for the season, which premieres Sept. 28. Joining Smart on the first show will be Jelly Roll as the musical act. He was also at the Emmys, singing during the ceremony's in memoriam segment.
It will be Smart's first time hosting "SNL."
Comedian Nate Bargatze will host on Oct. 5, with Coldplay as the musical guest.
Ariana Grande will host Oct. 12, with musical guest Stevie Nicks.
"Beetlejuice" star Michael Keaton will host on Oct. 19, the last show before Halloween, and Billie Eilish will be that night's musical guest.
The host on Nov. 2 will be "SNL" alum John Mulaney, with breakout sensation Chappell Roan as the music guest.
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