In preparation for the 2024 Annual Meeting of Shareholders, Disney has announced its recommendation for 12 nominees for the Board of Directors. Along with this recommendation, the company released information about executives’ salaries, including the 2023 salary of CEO Bob Iger.
Iger returned to Disney to re-take his position of CEO in November 2022. Since then, we’ve seen many changes at the company, including leadership changes, announcements for changes at the parks, and a serious focus on improving streaming assets. Now, we know just how much Iger was paid in the first full year since he returned.
The Walt Disney Company was required to release details about executives’ salaries in an SEC filing, which they did on January 16th. According to the recent filing, Bob Iger made $32,123,717 in fiscal year 2023.
This number is Iger’s full pay package, which is made up of base salary, stock awards, stock-option awards, cash bonuses, and other compensation. Variety notes that the 2023 number is down from Iger’s prior full year of employment with Disney in 2021, when he made $45.9 million.
The report also shows that the median employee’s total annual compensation for fiscal 2023 was $54,010, which means that the ratio of Iger’s salary to the median employee’s is 595:1.
Bob Iger initially returned to the company with plans to stay through 2024, but his tenure was extended through December 31st, 2026. In July 2023, the Board of Directors at Disney unanimously voted to extend Iger’s contract, adding the extra two years.
The board said that “the independent members of the Board of Directors noted that Iger’s extension provides continuity of leadership during the Company’s ongoing transformation, and allows more time to execute a transition plan for CEO succession, which remains a priority for the Board.”
Mark G. Parker, Chairman of The Walt Disney Company shared, “Time and again, Bob has shown an unparalleled ability to successfully transform Disney to drive future growth and financial returns, earning him a reputation as one of the world’s best CEOs.”
Iger has said that he will “definitely” step down as the CEO of the Walt Disney Company in 2026.
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