Pandemic Bounceback Yields Doubling of Chapek, Iger Salaries in 2021
The price of popcorn isn’t the only thing that went up recently at Disney parks. The price for its two top executives also more than doubled last year based on the previous year. The salaries for both Walt Disney Company CEO Bob Chapek and former executive board Chairman Bob Iger more than doubled between 2020 and 2021, according to reports.
Yesterday, the Walt Disney Company announced the earnings of its top two leaders in a filing with the Securities and Exchange Commission. After not receiving bonuses in 2020, the compensation packages of the top executives most certainly show that business is back on track for the corporation.
In 2021, Chapek’s salary grew to $32.46 million, a huge increase from his first year in the position. Chapek took the reigns of the Walt Disney Company in February 2020, just before the coronavirus pandemic forced the closure of its United States-based theme parks. In that year, his compensation packaged totaled only $14.1 million.
Still, this larger package still puts Chapek’s compensation far lower than others in compartive roles, according to a Deadline article.
Iger’s Final Compensation
Comparatively, Bob Iger’s salary also more than doubled between 2020 and 2021, though it did not return to its all-time highs from the years prior to the pandemic. According to an article published by The Hollywood Reporter, Iger made $45.9 million in his final year with the Walt Disney Company. The number more than doubled his $21 million salary the year prior but did not come close to his 2018 earning of $65.6 million or those of 2019 when the celebrated executive made $47.5 million, according to the article.
Also important to note: The SEC filing dates to earnings that occured on or prior to October 2nd. Iger finished his time with the Walt Disney Company on Dec. 31st. This leaves out the enormous “end-of-contract stock grant, which was awarded to him on Dec. 31, and which was worth nine figures,” according to the Reporter article.
Other Filing Announcements
Other top earners at the Walt Disney Company included Chief Financial Officer Christine McCarthy, former Chief Communications Officer Zenia Mucha, and former general counsel Alan Braverman. The latter two resigned from the company at the end of Iger’s tenure.
As Chapek attempts to reshape and guide the Walt Disney Company in new paths, many also noted the importance of the opening annual shareholder meeting. Announced in the filing, the media will take place March 9th. It will be livestreamed for the public to view.
Feature Image Credit: Disney