Disney Cuts Iger’s Pay 56% to $21 Million, Axes Bonuses
Bloomberg 1/20/2021 Christopher Palmeri and Anders Melin
(Bloomberg) Walt Disney Co. Executive Chairman Bob Iger saw his pay decline 56% to $21 million last year, after the company curtailed bonuses and other compensation in the wake of the pandemic.
Chief Executive Officer Bob Chapek, who was promoted to Iger’s former role at the end of February, earned $14.2 million, one of the lowest compensation levels for a Disney CEO in more than a decade. Iger earned $21.9 million in 2006, his first full year as CEO.
Bonuses were eliminated for the company’s most highly compensated executives. Executive pay was affected by the company not being able to meet some performance metrics. Disney lost $2.8 billion last year on sales of $65 billion.