Disney CEO Bob Iger — back for the second time as chief executive of the entertainment giant — will be compensated handsomely for returning to the job
However, his deal also includes an annual long-term incentive award valued at $25 million, of which 60 percent will be performance-based RSUs, and the remainder being stock options that will vest if Iger is still with the company when the contract ends on Dec. 31, 2024.
Of course, Iger’s actual annual compensation will depend highly on Disney’s stock price, and whether he meets the performance conditions set by the board. And, in fact, Iger will be joining Disney’s board as well, according to the contract. Chapek, meanwhile, is likely to leave Disney with a severance package valued at at least $20 million, according to a review of his contract, though the exact number could end up being higher than that, depending on the vesting schedule of his stock holdings, and other factors.
Disney stunned the entertainment world, and frankly the entire business world, on Sunday night with its decision to reinstall Iger as CEO. In a statement, Disney board chair Susan Arnold said that it “has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.”
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