The world’s biggest entertainment company is taking a little more time to choose a new CEO. Disney announced it will extend the contract for CEO Robert Iger for another year, until 2019. This is the third time Disney has extended Iger’s contract. He was originally supposed to retire in 2015, but Disney keeps convincing him to stay on, this time with a $5 million bonus for the extra year. Disney isn’t the first company to have trouble putting a succession plan in place. Why is it so hard? Jeff Sonnenfeld gives this thoughts.
Professor Roger Ibbotson is a finance veteran whose research has helped shape investing for decades. But earlier this year, he had the chance to participate in a Wall Street ritual for the first time, when he rang the closing bell at the end of a day of trading at the New York Stock Exchange.