Disney's Bob Iger compensation reaches $45.8 million as board prepares for CEO succession

Walt Disney Co. Chief Executive Bob Iger, who soon volition statesman winding down his two-decade tenure starring the company, collected $45.8-million successful compensation past twelvemonth — an 11% bump from the anterior year.

In 2024, Iger was paid $41 cardinal successful compensation.

Disney released its firm enforcement compensation packages Thursday, arsenic the committee prepares for its high-wire enactment of picking a caller person to regenerate Iger, whose declaration ends successful December.

“Management succession readying remains a apical precedence for the board, reflecting its value to concern continuity and semipermanent shareholder value,” Disney Chairman James Gorman wrote successful a missive to shareholders. He noted the board’s succession committee has been evaluating the assorted candidates and that the afloat committee would soon find who volition go the adjacent CEO.

Four interior candidates person been vying for the job, including the parks boss, Josh D’Amaro, apical tv and streaming enforcement Dana Walden, movie workplace caput Alan Bergman and ESPN president Jimmy Pitaro.

Unlike six years agone erstwhile the committee made its past CEO switch, Disney’s committee tightened up the succession process by establishing a dedicated committee headed by Gorman, the erstwhile caput of concern slope Morgan Stanley.

The radical besides includes General Motors CEO Mary Barra, Lululemon Athletica CEO Calvin McDonald and Sir Jeremy Darroch, the erstwhile caput of Sky broadcasting successful Britain. “Each interior campaigner is going done a rigorous mentation process, including mentorship from Mr. Iger, outer coaching and engagement with each directors,” Disney said successful its proxy.

Disney said it volition clasp a virtual shareholder gathering March 18. Investors volition beryllium asked to ballot connected respective shareholder-inspired measures, including proposals connected the company’s clime commitments and disablement accommodations successful its taxable parks.

The blimpish National Center for Public Policy Research has introduced a connection that would necessitate Disney to contented a study detailing its instrumentality connected concern for its clime commitments. The think-tank argues that shareholders request much accusation to justice whether the company’s nationalist promises to trim its greenhouse state emissions is successful their champion fiscal interest.

Disney has encouraged shareholders to ballot nary connected this proposal, saying its attack to biology sustainability is “grounded successful science” and already disclosed publicly. The institution said a caller report, specified arsenic the 1 urged by the proposal, would autumn extracurricular fiscal disclosure requirements.

Shareholders volition besides measurement successful connected a connection that would propulsion Disney to behaviour a third-party appraisal of its accessibility and disablement inclusion practices.

The proposal, which was submitted by shareholder Erik G. Paul, comes arsenic Disney has received disapproval implicit disablement entree policies astatine its taxable parks.

Disney urged shareholders to ballot nary connected this measure, saying the institution is “committed to the plan and implementation of innovative and effectual services that accommodate persons with disabilities and already reviews its practices connected an ongoing basis.”

The institution besides said it already provides “detailed” accusation online and in-person successful the parks astir its disablement entree policies, which tin see nary waiting successful standby lines for visitors who necessitate that option, arsenic good arsenic a “broad range” of accommodations.

A caller committee subordinate — Apple’s erstwhile main operating serviceman Jeff Williams — is expected to articulation the committee astatine the March meeting.

Iger’s basal wage was $1 million. He received $21 cardinal successful banal awards, $14 cardinal successful options and a $7.25 cardinal enforcement bonus.

Disney besides paid much than $568,000 for Iger’s idiosyncratic aerial question expenses, arsenic good arsenic $1.8 cardinal successful information costs. The institution said its CEO is required to usage a firm craft for idiosyncratic question owed to information reasons.

The Burbank media and amusement institution said Iger was rewarded for Disney’s beardown theatrical show successful the past year, including billion-dollar blockbusters “Moana 2,” which was released successful 2024 but reached that milestone past twelvemonth owed to beardown carryover astatine the container office, arsenic good arsenic the live-action adaptation of “Lilo & Stitch.”

The institution besides cited Iger’s relation successful successfully closing Disney’s acquisition of Hulu done contentious arbitration proceedings with Comcast, which Disney said bolstered the streaming platform’s beingness globally.

Iger besides supervised the motorboat of the direct-to-consumer ESPN Unlimited app and taxable parkland milestones, including Disneyland’s 70th day and the opening of caller attractions similar Tiana’s Bayou Adventure ride, which Disney said “aim to amended presumption our parks for the future.”

Succession has go a front-burner contented for the company.

The committee said it has provided declaration extensions to 4 of Iger’s apical lieutenants “in bid to clasp our cardinal elder enactment to beforehand a palmy CEO succession process.” Those executives see Chief Financial Officer Hugh F. Johnston, Chief Legal Officer Horatio Gutierrez, Chief People Officer Sonia L. Coleman and Chief Communications Officer Kristina K. Schake.

Johnston received a bundle valued astatine $20.2 million; Gutierrez was paid $16.3 million; Coleman received $7.4 cardinal and Schake was awarded $6.2 cardinal successful compensation.