Disney CEO Bob Chapek, Bob Iger pay packages more than doubled: report
In fiscal 2020, Disney executives including Chapek and Iger, did not receive bonuses amid the economic impact of the COVID-19 pandemic.
It was a big year in compensation for both Disney's current CEO and former boss.
CEO Bob Chapek's compensation package for the company’s fiscal 2021 hit about $32.5 million. That's more than double the $14.2 million he took home a year ago, according to Variety.
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Former CEO Bob Iger who left Disney at the end of last year as executive chairman, also saw double. His total comp package came in at $45.9 million, versus $21 million the year prior.
In fiscal 2020, Disney executives including Chapek and Iger, did not receive bonuses amid the economic impact of the COVID-19 pandemic.
Disney chief executive Bob Chapek speaks during a ceremony at Hong Kong Disneyland. (AP Photo/Kin Cheung, File) ((AP Photo/Kin Cheung, File) / AP Newsroom)
Chapek’s base salary was $2.5 million, up from $1.8 million in FY2020. His compensation include $10.2 million in stock awards, $3.75 in stock options and a $14.3 million cash bonus, according to Disney’s proxy filing with the SEC.
Iger received $3 million in salary for the most recent fiscal year, up from $1.6 million the year prior and the same as in FY2019.
The Walt Disney Company Chairman and CEO Bob Iger arrives for the World Premiere of "Star Wars: The Rise of Skywalker."(Photo by Jesse Grant/Getty Images for Disney)
His compensation included a $22.9 million cash bonus, plus $9.5 million in Disney stock and $9.3 million in stock options. That does not include stock Iger was entitled to receive when his contract expired at the end of calendar 2021, worth $231 million as of Oct. 1, 2021, according to Disney’s filing.
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For fiscal year 2021, Disney posted revenue up 3% to $67.4 billion and net income of $2.0 billion, versus a net loss of $2.8 billion in FY2020.
It reported 179 million streaming subscribers worldwide, including 118.1 million for Disney Plus.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 117.47 | -0.13 | -0.11% |
In the filing, Disney said "Mr. Chapek, as Chief Executive Officer, delivered strong performance given the unprecedented challenges resulting from the COVID-19 pandemic and meaningful shareholder value, driven by exceptional execution of the Company’s key strategic initiatives."
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As for Iger, who oversaw Disney’s creative endeavors during his last 18 months at the company, he "deftly managed" production delays that affected content creation as a result of the COVID-19 pandemic.