Bob Iger Made $31.6 Million as Disney’s CEO Last Year
Bob Iger, the Chief Executive Officer of Disney, saw a substantial increase in his compensation, totalling $31.6 million for the year 2023, marking a significant boost from his earnings in the preceding year.
The breakdown of Iger’s 2023 pay package, as outlined in The Walt Disney Company’s annual proxy statement filed on Tuesday, includes a base salary of $865,385, stock awards amounting to $16.1 million, $10 million in stock option awards, $2.1 million in performance-based compensation, and $2.48 million in other compensation.
This notable increase in Iger’s earnings comes in his first full year back at the helm of Disney after returning from retirement. In contrast, his total compensation for 2022 amounted to $15 million, according to the filing.
Having previously served as Disney’s CEO from 2005 to 2020, Iger reemerged from retirement in November 2022 to replace his chosen successor, Bob Chapek, who had assumed the role less than three years earlier. Despite Chapek’s departure from the company in 2022, he still received a total pay of $9.9 million from Disney last year, as indicated in the filing.
Despite the substantial earnings of its top executives, Disney has encountered challenges in the past year, including underperforming box office releases, a decline in linear TV viewership, and an uneven transition to the streaming era. In November, the company announced plans to cut expenses by an additional $2 billion, supplementing the previously disclosed $5.5 billion reduction, as it adapts to the evolving media landscape.
During the fourth-quarter earnings call in November, Iger acknowledged the progress made in enhancing Disney’s business but emphasized that there is still work to be done in navigating the rapidly changing media environment.
