Are you curious as to what Bob Iger’s new salary will be? Details have emerged surrounding the Walt Disney Company’s intended compensation for the new CEO.
Bob Chapek is No Longer CEO
You might have heard the news that has been flooding the internet by now. Bob Chapek is no longer serving as CEO of the Walt Disney Company. Disney announced that he stepped down from his position.
What’s more, Bob Iger will be returning to replace Chapek as CEO. You can read the entire story from KtP writer Jamie, including statements from Susan Arnold, Chairman of the board, right here.
The Reaction Unfolds
Unsurprisingly, the change threw the world of Disney fans for a loop. It is likely that employees experienced some measure of surprise when they received an email from the newly instated CEO. You can read it here.
But perhaps the biggest reaction came from the stock market. It looks like investors find the change favorable. They seem to value Iger at the helm. You can read about it here.
But what sort of value does Disney place on Iger as the new Chief Exe Officer? Details have emerged.
Bob Iger’s Salary
The Walt Disney Company will provide an annual base salary of $1 million. There is also a possible 100% annual bonus.
Iger’s employment agreement also entitles him to a long-term incentive award with a target value of $25 million for each fiscal year in the agreement. This will be in the form of performance-based restricted stock units as well as stock options. And, of course, he will receive employee benefits.
Bob Iger is on track to make millions over the next 2 years.
As it stands, his term as CEO is set to end on December 31, 2024. There is also a provision for early termination of the agreement both with and without cause.
Previously, his total compensation peaked at $65.6 million dollars in 2018.
If you are interested in comparisons, here is what Bob Chapek is entitled to, based on his provision for termination without cause. And here is an update on the terms of the separation from the Walt Disney Company.
What do you make of these numbers? Let us know in the comments, or join the conversation on Facebook.