The Walt Disney Company has once again amended the possible yearly take-home of CEO Bob Iger. The announcement comes in advance of a company shareholders meeting on March 7th and the acquisition of 21st Century Fox properties which is expected by many to conclude in the near future.
Here are the significant changes for Iger in the year to come:
- The CEO’s annual salary will take a $500,000 drop, from $3.5 million to $3 million.
- His annual target bonus will remain static at $12 million, eliminating the annual $8 million increase.
- The $25 million annual target long-term incentive award for Iger will fall to $20 million.
Bob Iger’s total compensation grew substantially between 2017 and 2018 — from $36.3 million to $65.6 million — due to a favorable contract for the CEO if The Walt Disney Company met certain goals. Disney reworked that contract as recently as last December, citing shareholder input as the primary reason for more ambitious goals and a higher potential payout for Iger.
Source: The Hollywood Reporter