So How Much Is Iger Earning Now That He’s Back on Top!?
If you’ve been following along with MickeyBlog this week, you no doubt have heard the news that former Disney CEO Bob Iger has been reinstated as CEO and Bob Chapek is out. One of the things that we’ve been wondering is what The Walt Disney Company had to offer up in terms of salary to entice Iger to return to the company. DEADLINE recently ran a piece discussing Iger’s earnings so it looks like now we know!
According to the piece, Iger could receive up to $27 million a year for the two years that he has agreed to return to the company to get things back on track. This covers his new contract which will run from November 20, 2022 – December 31, 2024. It should also be noted that the amount of Iger’s salary could vary depending on how well the company does in meeting financial targets under his tenure.
Before Iger stepped away in 2020, he held the post of CEO for 15 years before turning over the reigns to Bob Chapek Though his new base salary is only expected to be $1 million a year. It is through equity that the exec could increase his pay to $25 million per year.
Bob Chapek will also receive a golden parachute to the tune of $20 million which includes severance payments in accordance with his contract.
The Walt Disney Company received criticism in 2019 when it was revealed that Iger made updated of $47.5 million. Those like Disney heiress Abigail Disney were quick to point out the pay disparity between top brass and cast members barely making a living at minimum wage.
Chapek, meanwhile, will receive at least $20 million in parting gifts from Disney. In the SEC filing, the company said he will get severance payments “in accordance with the terms of his previously disclosed employment agreement,” with the exact amount to be specified at a later date.
Readers are encouraged to keep following along with use for further Walt Disney World news and updates. We’ll be coming to you LIVE from the theme parks each and every week.
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