The Disney CEO made his observations as he kicked off his company’s annual shareholder meeting in Portland, Ore. Frozen has already generated more than $1B globally and, with its successful open in Japan, should pass Toy Story 3‘s sales of $1.06B. TS3 made $126.7M in Japan. The new film’s success has returned Disney’s animation studio to its “rightful place” as one of the world’s greatest, Bob Iger says. Pixar, meanwhile, will produce a third Cars movie and is developing a sequel to 2004’s The Incredibles, Iger also said, with confirmation coming via Disney/Pixar’s Facebook page that it is “currently working on two new films featuring your favorite characters from Incredibles and Cars.” Iger also crowed about the company’s market value of more than $143B, up from about $100B last year. “I’d call that a great year,” he says. Iger told investors that he can’t share much about Star Wars VII, but said that principal photography will begin in May in London. In his opening comments the CEO also said that the Shanghai Disney park will feature a Pirates Of the Caribbean-themed attraction called Treasure Cove.
Related: Disney: ‘Star Wars’ To Start Shooting In May, Pick Up 30 Years After End Of ‘Jedi’
No surprises on the business side: All of the board nominees, who were unopposed, were re-elected according to the preliminary returns. Former Starbucks CEO Orin Smith trailed the pack with support from holders owning 92% of the votes cast. Iger was favored by 99%. Some 80% supported an advisory resolution endorsing the company’s executive compensation. Just 24% supported a shareholder proposal that Disney opposed that would have barred accelerated vesting of executives’ equity awards if there’s a change in control.
In a Q&A session, a shareholder criticized ABC News for its scant coverage of the IRS when it singled out conservative groups’ tax returns for review. Iger says that he’s proud of the news operation even though “there are times when critics can point to mistakes they’ve made.” Asked about Pirates Of The Caribbean, Iger says that “there’s creative being done” on a fifth sequel but it has not been officially approved for production. He also says it’s “unlikely in the near term” that the animation studios will produce a hand-drawn, 2D feature film.