With Disney CEO Bob Chapek’s contract extension comes a pay raise. Check out how big this raise is and tell us what you think.
Contract Extended
When Bob Iger retired in February 2020, Bob Chapek took his place as CEO of The Walt Disney Company. He took charge right before the parks closed in March of 2020 due to the pandemic. Chapek has been in charge for over two years, overseeing the parks, entertainment, and more.
Over the past year, in particular, many Disney fans have wondered if Chapek’s days are numbered at the Walt Disney Company. Last week, the Disney Board voted unanimously to extend Bob Chapek’s contract for three more years. Check out the full details and Chapek’s statement HERE.
For the next three years (until July 1, 2025), Bob Chapek will remain Disney’s CEO. Today, we learned that this new extension to his contract also came with a sizeable bonus.
New Bonus
According to an SEC filing, we see new details of Chapek’s earnings under this newly extended contract. Chapek had an original base salary of $2.5 million per year. This salary remains the same. A rather large change did come for his annual bonus. Prior to the contract extension, Chapek could earn a $15 million bonus annually based upon a long-term incentive award.
This bonus has now been raised from $15 million annually to $20 million. The SEC filing states, “The actual amounts payable to Mr. Chapek in respect of such opportunities will be determined based on the extent to which any performance conditions and/or service conditions applicable to such awards are satisfied and on the value of the Company’s stock.”
“Accordingly, Mr. Chapek may receive compensation in respect of any such award that is greater or less than the stated target value, depending on whether, and to what extent, the applicable performance and other conditions are satisfied and on the value of the Company’s stock.”
This bonus has now been raised from $15 million annually to $20 million annually.
What do you think about this increase per annual bonus? Do you feel that this is a bit much or just right? Share your thoughts with us on our Facebook Page.
Thank you John Rende for bringing up Disney’s losses. Went on line and found this: “Disney reported an operating loss of $887 million related to its streaming services in the quarter — up from a loss of $290 million a year ago. For the first six months of Disney’s fiscal year, it has lost about $1.5 billion” This was dated May11, 2022. What is with this board of directors? They obviously do not have money in Disney stock nor do they care about their stockholders!!
@John Rende…Disney is off our entertainment list. Caput. Done. No more of my money will fund this fiasco.
@Jeff…first, I love your intro. I could not have said it better myself!
Hello Ladies and Gentlemen, Boys and Girls,
This just goes to show us all what this board is about. Chapek allows some if not all of these board members to spew their propaganda at all of us through Disney in turn for keeping his position. I doubt if any of the members actually own much Disney stock or it would be a major concern to them that it is tanking. Point I am trying to make is that they are all in this together sharing the profits, bonuses, perks etc. that are still being made. By the time Disney is at a point where it is no longer a profitable business the board and their families will all be millionaires. They will just move on. Someone else will have to come in to clean up the mess. We can only hope that they move on sooner than later. At the moment any dissatisfaction being voiced by the paying customer base looks to be falling on deaf ears. And please keep in mind to vote smart in November to keep Desantis in charge of Florida. Disney World at least may get a wake-up call to get their act together.
This is why everything at Disney is so expensive! This is inexcusable!
The Board should ask Disney goers, AP holders, DVC members etc what they think of the job Chapek is doing! What those visiting the Parks think of their experience and how much more difficult it is to even plan a Disney vacation. Why can’t Genie+ work as well as the old Fastpass app where you plan a time and by the time you finalize it the time you pick is totally different or able to easily make changes. Rides breaking down, checking into unclean or rooms with mold. Chapek is allowing all of this! And what about the sorry state of the Reedy Creek emergency equipment. Maybe they should not be in charge of these services!???
Unbelievable, no wonder they keep jacking up prices. And it’s not even line he’s doing a great job.
Wow…how out of touch with their “guests” are the CEO and, especially, the Board of Directors??? This is totally pathetic.
I find it difficult to say anything about this – its just so bad. However, I do have one question: How much would it cost Disney to hire a competent CEO? Because this guy is the farthest thing from competent.
What a disgrace!!!!!!!!!!!
He should have been fired for costing the company and shareholders $150B+!!!!
So they have now told us they are on board with his horrendous, incompetent leadership.
Time to sell the stock and DVC.
I can’t spend my mo yea on this WOKE SCUMBAG!!