Disney CEO Bob Iger’s pay package for 2024 jumps to $41 million
Last year, Bob Iger, the CEO of The Walt Disney Company, was awarded a compensation package totaling $41.1 million, as reported in a document filed with the United States Securities and Exchange Commission on Thursday.
In simpler terms, the amount that figure represents is approximately 30% more than what Robert Iger earned as his total compensation in 2023, which was roughly $31.6 million. Iger’s remuneration consisted of a cash bonus, stocks, and options, with a base salary of one million dollars. The majority of Iger’s pay is contingent upon the company’s overall performance.
The Burbank-based media and entertainment company announced that Iger, aged 73, received recognition for Disney’s impressive box office earnings. This success was demonstrated by two billion-dollar-grossing films such as “Inside Out 2” and “Deadpool & Wolverine,” the achievement of profitability in its streaming sector, and a successful fan interaction at D23 convention.
Currently serving his second term as Disney’s CEO, Iger has consistently ranked among the most generously compensated executives in the media industry.
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A recent survey by The Times details the paychecks of executives at Warner Bros. Discovery, Netflix, and other similar companies. This matter is generating much discussion among strikers during the ongoing writers’ strike.
The raise in his salary is happening because the company is still evaluating possible replacements for the current CEO position. Iger’s contract concludes in December 2026, and Disney’s board of directors has indicated they will announce the new CEO by early 2026 to ensure a smooth transition.
On this occasion, there’s simply no tolerance for mistakes. Robert Iger resumed his role as Disney CEO in 2022, following the dismissal of his chosen successor, Bob Chapek, by the board due to several challenges encountered over his two and a half year tenure.
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In June, Disney’s board extended Bob Chapek’s contract for another three years. However, five months later, the same board decided to replace him with his former boss, Bob Iger. So, the question is, what led to this change in leadership at Disney?
Additionally on Thursday, Disney announced a new leader for another significant sector of their business. The chosen one is Thomas Mazloum, who will now head the Disneyland Resort, taking over from Ken Potrock who has been reassigned within the company. Mazloum previously oversaw Disney’s special experiences division, which encompasses operations like the Disney Cruise Line, Disney Vacation Club, and Aulani resort in Hawaii.
As a die-hard Disney fan, I can’t help but marvel at the financial success of their Experiences division – the magical world of their theme parks and the merchandise that keeps the magic alive. This division is the backbone of their operating income, accounting for a significant portion of it.
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2025-01-24 02:01