The Walt Disney Company just had a major shake-up.
In a move that shocked many in the industry, the former Walt Disney Company CEO was fired (New York Times) and replaced by his predecessor, Bob Iger. Since the news came out, so has more information. And now we’re learning more about Bob Iger’s new contract.
According to an SEC filing, Bob Iger will be receiving a base salary of $1 million with the possibility of a 100% bonus.
Along with this base salary, Iger will also be “granted a long-term incentive award having a target value of $25 million.” This will be in effect for each of the fiscal years under his agreement, which is a 2-year contract ending on December 31st, 2024. Of this award, the filing states that “[60%] will be provided in the form of performance-based restricted stock units and the remaining 40% will be in the form of stock options.”
Meanwhile, it has been revealed that Bob Chapek will reportedly be walking away from the Company with nearly $23 million, due to his remaining contract value, retirement, stocks, and more.
According to the New York Times, Chapek was fired after the board determined he “had done irreparable damage to his ability to lead”, noting a “string of missteps resulting in the lost confidence of Wall Street and most senior Disney executives, as well as many rank-and-file employees.” The news came only months after Chapek had signed a multi-year contract renewal back in June.
We’ll continue to keep you updated with the latest from this major news, and for more on this recent change, check out the following posts:
- Bob Chapek Stepping Down As Disney CEO, Bob Iger Returns to Position
- NEWS: Disney Stock Prices Rise After Iger Announced as CEO
- Bob Iger Thinks Choosing Bob Chapek as Next Disney CEO Was a Mistake
- Why Bob Iger Replaced Bob Chapek
Stay tuned to AllEars for more Disney news and updates.
Join the AllEars.net Newsletter to stay on top of ALL the breaking Disney News! You'll also get access to AllEars tips, reviews, trivia, and MORE! Click here to Subscribe!
What do you think of the change in CEO? Let us know your thoughts in the comments.
I work for the company and if I was fired my salary will not continue nor my benefits. Disney loses alot of money when they hire contractor’s and ceo’s that don’t work out because of bonuses. Termination of bonuses that everyone gets in the company when (fired)and the company can start by hiring the proper people to fill in those positions. The whole situation is unfair to not only the ceo’s but to the whole company. Start making threats and get the right people in there now
Guests and Cast Members – take care of them and leave politics out of the equation and you will have a winning combination!