Business

Disney’s boomerang CEO Bob Iger to get $27 million yearly

Walt Disney will pay Bob Iger about $27 million yearly for returning as president under a brand-new two-year offer.

Iger will get a base pay of $1 million and a benefit equivalent to that quantity, according to a filing by the business on Monday. In addition, he’ll get stock awards with a target worth of $25 million each year. 

Disney, the world’s biggest home entertainment business, revealed Sunday that Bob Chapek was stepping down as CEO right away, to be changed by Iger, who ran the business for 15 years prior to retiring in December 2021.

The quantity, which depends on the efficiency of Disney stock, is not as big as a few of the business’s pay plans traditionally. Chapek, who was called CEO in February 2020, got $32.5 million in overall payment in financial 2021. Iger, who was executive chairman at the time, got $45.9 million.

Disney has actually looked for to control the pay of its magnate recently after routinely getting criticism from business governance specialists.

Media executives consistently top the list of highest-paid U.S. executives. David Zaslav, CEO of Warner Bros. Discovery Inc., got $247 million in 2015. 

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Blake

News and digital media editor, writer, and communications specialist. Passionate about social justice, equity, and wellness. Covering the news, viewing it differently.

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