Robert Iger, the CEO of the Walt Disney Company, will add the title Chairman to his title as of March 2012 when the current company Chairman John Pepper retires.

Robert will then hold on to both his titles until March 2015 when he will be replaced by a new CEO and become solely Executive Chairman of Disney.

In addition, Robert has signed a new deal with the company that runs through June 30, 2016. With the new deal Robert’s salary is set at $2.5 million a year with the addition of an annual bonus based on Disney’s revenue.