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The Walt Disney Company made some major announcements today. Here are the updates you need to know about regarding the slate of nominees for the board including who is getting left off. The company also disclosed CEO Bob Iger’s salary.
Shareholder Meeting
In preparation for the 2024 Annual Meeting of Shareholders, the Walt Disney Company Board of Directors disclosed its recommended slate of 12 nominees. When the time comes, shareholders will cast their votes.
The board is unanimous in its recommendation to shareholders. The recommended nominees are: Mary T. Barra, Safra A. Catz, Amy L. Chang, D. Jeremy Darroch, Carolyn N. Everson, Michael B.G. Froman, James P. Gorman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker, and Derica W. Rice.
The Walt Disney Company released a statement about the recommended group of nominees. “The nominees reflect Disney’s ongoing commitment to a strong Board focused on the long-term performance of the company, strategic growth initiatives, the succession planning process, and increasing shareholder value.”
You will notice that some key players are missing from this list. Nelson Peltz has been vocal about seeking board seats. However, the board is not endorsing Peltz.
The Walt Disney Company stated, “The Board does not endorse the nominations of Nelson Peltz and James Rasulo put forth by Trian Fund Management, L.P. and its affiliates, led by Nelson Peltz and supported by former Disney executive Isaac Perlmutter (collectively, the “Trian Group”). The Board recommends that shareholders do not vote for the Trian Group nominees, and that they reject a related proposal from the Trian Group to amend the Company Bylaws.”
Moreover, the board does not endorse the nominations of Blackwells Group members. They include Craig Hatkoff, Jessica Schell, and Leah Solivan.
CEO Bob Iger’s Salary
The company has also released a proxy statement that includes the CEO-to-employee salary ratio in accordance with the SEC. The median employee annual salary comes to $54,010.
Iger’s compensation for fiscal year 2023 is $32,123,717. The total compensation does include base salary, cash bonuses, stock awards, stock options, and other compensation. This makes the CEO-to-Employee ratio 595:1.
COE Bob Iger’s total compensation for FY23 is $32,123,717.
What do you think of these nominations and figures? Let us know in the comments. And, feel free to pass this story along to those you know who are interested in the inner workings of The Walt Disney Company.
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Disney Boy
Saturday 20th of January 2024
Those two guys who wanted to be nominated but weren't nominated have started a movement called Restore the Magic. I can't tell who is in the right anymore or what side to take. Do you want to report on that.
JW
Tuesday 16th of January 2024
Based on Iger's recent performance, he's making WAY too much $. I just wish someone in management would push to return the perks that used to come with a Disney vacation. But I don't think that's going to happen. As stockholders, we usually vote the opposite of what the board recommends anyway...
KatieP
Wednesday 17th of January 2024
Thank you for voting! I do wish we would see the perks return. I was hoping the free parking would be the start of it.