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Disney CEO Bob Iger’s Rich Compensation Package Revealed, Company Says Bob Chapek Fired ‘Without Cause’

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Bob Iger stunned the entertainment industry when he reassumed his role as the CEO of the Walt Disney Company on Sunday night. The former Disney chief will earn a $1 million base salary for going back to his old job, according to public filings. But that pact could grow a lot richer if Iger and Disney reach certain benchmarks.

Iger is also entitled to an annual bonus of up to $1 million, along with a long-term incentive award with a target value of $25 million for each year of his contract. That means Iger has the potential to earn up to $27 million. The Disney’s chief’s deal began on Nov. 20, 2022, and ends on Dec. 31, 2024.

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Filings did not state what kind of exit package Bob Chapek, whom Iger replaced as CEO, will receive. It did say that Chapek, who has had a tumultuous tenure at the family entertainment giant, was fired “without cause.” He resigned from the board, as well as from his post at Disney.

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Though Iger may be handsomely rewarded, he will be taking a pay cut. He earned a total compensation of $45.9 million in 2021, up from the $21 million he earned in 2020. His base salary was $3 million, and he earned a cash bonus of $22.9 million. Chapek’s total compensation hit $32.5 million in 2021, double the $14.2 million he took home the prior year. He earned a base salary of $2.5 million.

Chapek assumed the CEO job after successfully running the company’s parks and resorts division. But he made a series of blunders, clashing with Scarlett Johansson over her compensation for “Black Widow” after the studio debuted the film simultaneously on streaming, and facing a near staff revolt over his reticence to take a stand against Florida “Don’t Say Gay” law restricting classroom instruction on gender identity and sexual orientation.

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