Core points of Gamers


Core points of Gamers

Returning Disney CEO Bob Iger’s Salary (and Massive Bonus), Revealed

Reinstated Disney CEO Bob Iger will be paid less than he was, but could earn more than $50 million, including bonuses, over the next two years.

While former and now new Disney CEO Bob Iger will apparently take a pay cut compared to his previous tenure, he could still end up with more than $50 million for his two-year deal.

In a recent article, the hollywood reporter revealed the salary of Iger, who was reinstated as CEO of The Walt Disney Company in a surprise move on November 20, ousting his handpicked successor, Bob Chapek, effective immediately. The new/old Disney boss will reportedly receive an annual income of $1 million, which is only a third of the amount he received the last time he ruled the company (his first term ended in February 2020). . An annual target bonus of another $1 million also seems relatively modest compared to earlier times, especially since he received a bonus valued at $23 million in fiscal 2021.

RELATED: Former Disney CEO Opens Up About Stacy’s ‘Sexy’ Mom-Style Sitcom Speech Rejected

Disney’s performance-based pay for Bob Iger

However, Iger’s new base salary and bonus are dwarfed by a long-term annual incentive award valued at $25 million, 60 percent of which will be RSUs (Restricted Stock Units) based on the performance. The rest will be stock options that will vest if Iger lives out his roughly two-year contract, which runs through the end of 2024. This all adds up to a $54 million payday for just over two years at the Disney helm.

With most of this salary entangled in RSU and stock options, the actual amount could vary greatly from these estimates, depending on whether Iger’s performance meets the expectations of the company’s board (which he also joined as member) and overall company performance. “Mr. Iger may receive compensation in respect of such award that is greater or less than the stated target value, depending on whether, and to what extent, applicable performance and other conditions are met, and on the value of the shares of the Company,” The Walt Disney Company wrote in a filing with the Securities and Exchange Commission that also detailed the financial terms of Iger’s contract.

RELATED: Former Disney Boss Reportedly Scorns His Replacement In Private

Disney’s split from Bob Chapek

Chapek will reportedly leave the company with a severance package valued at a minimum of $20 million, though the exact number could end up being higher, depending on, among other factors, the timing of his stock vesting. The outgoing CEO led The Walt Disney Company through a difficult two years that included declining box office returns due to the pandemic and heated debates over whether Disney had woken up too much or not enough. He not only championed the company’s growing sense of diversity, but also advocated for more mature content to be produced under Disney’s traditionally family-friendly banner.

Font: the hollywood reporter

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.