Bob Iger’s New Salary, Gameplan, and More Revealed
Meet the new boss, same as the old boss...
New information has come to light in the wake of Bob Iger’s shocking return to Disney last night. Reports show that Iger is taking a pay cut from what he earned at Disney in 2021, being paid $1 million per year as a base salary. However, Iger is also entitled to a $1 million annual bonus and a “long-term incentive” with a “target value” of $25 million for “each year of his contract.” 60% of the $25 million will be performance-based, with the rest being “that will vest if Iger is still with the company when the contract ends on Dec. 31, 2024.” Iger earned a base salary of $3 million in 2021, with a $22.9 million bonus, ultimately netting $45.9 million.
In comparison, outgoing CEO Bob Chapek earned a $2.5 million base salary in 2021, with an annual target of $15 million, which increased to $20 million when his contract was renewed this year. Chapek is expected to receive a severance package of at least $20 million, though stock values and other factors could increase that number. Additionally, Disney reveals that Chapek was fired “without cause.” We also know that this decision “blindsided” Chapek and resulted from an internal lack of confidence in him and the company’s quarterly earnings, and that Kareem Daniel and others close to Chapek have been terminated as well.
What do you make of the changes at Disney? Personally, I don’t really care; I don’t expect much to change any time soon. Talk to us in the comments!
