Walt Disney Co. Chief Govt Bob Iger, who quickly will start winding down his two-decade tenure main the corporate, collected $45.8 million in compensation final 12 months — an 11% bump from the prior 12 months.
In 2024, Iger was paid $41 million in compensation.
Disney launched its company government compensation packages Thursday, because the board prepares for its high-wire act of choosing a brand new chief to exchange Iger, whose contract ends in December.
“Administration succession planning stays a high precedence for the board, reflecting its significance to enterprise continuity and long-term shareholder worth,” Disney Chairman James Gorman wrote in a letter to shareholders. He famous the board’s succession committee has been evaluating the varied candidates and that the complete board would quickly decide who will turn out to be the following CEO.
4 inside candidates have been vying for the job, together with the parks boss, Josh D’Amaro, high tv and streaming government Dana Walden, film studio head Alan Bergman and ESPN Chairman Jimmy Pitaro.
In contrast to six years in the past when the board made its final CEO swap, Disney’s board tightened up the succession course of by establishing a devoted committee headed by Gorman, the previous head of funding financial institution Morgan Stanley.
The group additionally contains Basic Motors CEO Mary Barra, Lululemon Athletica CEO Calvin McDonald and Jeremy Darroch, the previous head of Sky broadcasting in Britain. “Every inside candidate goes via a rigorous preparation course of, together with mentorship from Mr. Iger, exterior teaching and engagement with all administrators,” Disney stated in its proxy.
Disney stated it would maintain a digital shareholder assembly March 18. Buyers will likely be requested to vote on a number of shareholder-inspired measures, together with proposals on the corporate’s local weather commitments and incapacity lodging in its theme parks.
The conservative Nationwide Heart for Public Coverage Analysis has launched a proposal that might require Disney to situation a report detailing its return on funding for its local weather commitments. The suppose tank argues that shareholders want extra data to guage whether or not the corporate’s public guarantees to cut back its greenhouse fuel emissions is of their greatest monetary curiosity.
Disney has inspired shareholders to vote no on this proposal, saying its strategy to environmental sustainability is “grounded in science” and already disclosed publicly. The corporate stated a brand new report, such because the one urged by the proposal, would fall exterior monetary disclosure necessities.
Shareholders may also weigh in on a proposal that might push Disney to conduct a third-party evaluation of its accessibility and incapacity inclusion practices.
The proposal, which was submitted by shareholder Erik G. Paul, comes as Disney has acquired criticism over incapacity entry insurance policies at its theme parks.
Disney urged shareholders to vote no on this measure, saying the corporate is “dedicated to the design and implementation of revolutionary and efficient companies that accommodate individuals with disabilities and already evaluations its practices on an ongoing foundation.”
The corporate additionally stated it already gives “detailed” data on-line and in-person within the parks about its incapacity entry insurance policies, which might embrace no ready in standby strains for guests who require that possibility, in addition to a “broad vary” of lodging.
A brand new board member — Apple’s former chief working officer Jeff Williams — is anticipated to hitch the board on the March assembly.
Iger’s base wage was $1 million. He acquired $21 million in inventory awards, $14 million in choices and a $7.25 million government bonus.
Disney additionally paid greater than $568,000 for Iger’s private air journey bills, in addition to $1.8 million in safety prices. The corporate stated its CEO is required to make use of a company plane for private journey attributable to safety causes.
The Burbank media and leisure firm stated Iger was rewarded for Disney’s sturdy theatrical efficiency within the final 12 months, together with billion-dollar blockbusters “Moana 2,” which was launched in 2024 however reached that milestone final 12 months attributable to sturdy carryover on the field workplace, in addition to the live-action adaptation of “Lilo & Sew.”
The corporate additionally cited Iger’s position in efficiently closing Disney’s acquisition of Hulu via contentious arbitration proceedings with Comcast, which Disney stated bolstered the streaming platform’s presence globally.
Iger additionally supervised the launch of the direct-to-consumer ESPN Limitless app and theme park milestones, together with Disneyland’s seventieth anniversary and the opening of latest sights like Tiana’s Bayou Journey experience, which Disney stated “goal to raised place our parks for the longer term.”
Succession has turn out to be a front-burner situation for the corporate.
The board stated it has supplied contract extensions to 4 of Iger’s high lieutenants “with a view to retain our key senior management to advertise a profitable CEO succession course of.” These executives are Chief Monetary Officer Hugh F. Johnston, Chief Authorized Officer Horacio Gutierrez, Chief Folks Officer Sonia L. Coleman and Chief Communications Officer Kristina Ok. Schake.
Johnston acquired a package deal valued at $20.2 million; Gutierrez was paid $16.3 million; Coleman acquired $7.4 million and Schake was awarded $6.2 million in compensation.
