Walt Disney’s large-scale management reshuffle announced this week has seen former CEO Bob Iger return to the company, with Bob Chapek leaving the company effective immediately. We now know how much Iger is earning as Disney’s new CEO and how much Chapek is preparing to leave.
Disney revealed in a government to apply that Iger will receive total compensation of $27 million for each of the two years he has signed the contract. He’s getting a $1 million salary and a $1 million annual target bonus, with an additional $25 million coming from incentives tied to how Disney’s stock price performs.
As for Chapek, he will receive a $20 million severance package, or more depending on his stock options, according to the report. Hollywood Reporter.
As mentioned, Iger will return to Disney for two years, with the task of helping the company shape its future strategy and help find a successor. But even after Iger prepares to leave Disney on December 31, 2024, it seems likely that Iger will remain on the Disney payroll as he will become an advisor to the company.
You can Read Iger’s full contract here.
Iger said he was “extremely optimistic” about Disney’s future and was “delighted” to be asked to return as its CEO.
“Disney and its one-of-a-kind brands and franchises hold a special place in the hearts of so many people around the globe – most especially in the hearts of our employees,” he said. I, who are dedicated to this company and its mission, are an inspiration.” “I am extremely honored to be once again asked to lead this remarkable team, whose clear mission is focused on creative excellence to inspire generations through apple storytelling. violent, incomparable.”
Iger leaves his role as CEO of Walt Disney in 2020 but remains at the company as Executive Chairman through December 2021.
In January of this year, Iger said that the rumor that he might return to be the CEO of Walt Disney again is “comical.” He said at the time, “I’ve been CEO for a long time. You can’t go home anymore. I’m gone.”
Now, he’s back.
As for Chapek, he started as CEO of Disney in February 2019, just before the global pandemic began. In June 2022, Disney’s board of directors unanimously voted to extend Chapek’s contract until 2025, saying it has faith in its leadership. Obviously, things can change quickly.
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