For fifteen years, Bob Iger was in charge of The Walt Disney Company, and he was incredibly popular among Disney fans. The company also soared under Mr. Iger, with the opening of Hong Kong Disney in 2005 and Shanghai Disney in 2016. He was also responsible for some major acquisitions, including Pixar Animation Studios in 2006, Marvel Studios in 2009, and Lucasfilm in 2012.
Mr. Iger stepped down as CEO in February 2020, and former Parks Chairman Bob Chapek took over. Unfortunately, Mr. Chapek’s time as CEO was turbulent, controversial, and short-lived. Bob Iger returned as CEO less than three years later.
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Sadly, Mr. Iger’s second go-around has not been nearly as successful as his first run. He has been dealing with increasing guest frustration and anger as things at Disney parks get more expensive while the quality stays the same, or in some cases, goes down.
He has laid off thousands of dedicated Disney cast members and cut $5.5 billion from Disney’s budget. Iger has also been forced to put a lot of effort and focus into making Disney+ profitable. Last year, he finally managed to get the streaming platform into the black, but it came at the cost of budget cuts and the cancellation of popular shows.
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Even though Disney’s stock is struggling, things are more expensive than ever, Disney’s quality isn’t what it once was, and thousands of former cast members are without work; Bob Iger is still taking home a mighty big paycheck.
And this year, it got a lot bigger.
According to reports, Bob Iger received a big pay bump and is now making more than $40 million. Per The Wrap:
The 2024 pay package included a $1 million salary, $18.25 million in stock awards, $12 million in option awards, $7.22 million in non-equity incentive plan compensation, $495,142 reflecting a change in pension value and non-qualified deferred compensation earnings, and $2,145,767 in “other” compensation, including $523,685 in personal air travel and $1.44 million in security costs.
For comparison, Mr. Iger made just over $31 million in 2023, so this is a significant pay raise.
Mr. Iger returned to the CEO position in November 2022, and he is set to remain in the role until the end of 2026. While a successor has not yet been named, there are reportedly four key players being considered for the role — Disney Entertainment co-chairs Dana Walden and Alan Bergman, Disney Parks Chairman Josh D’Amaro, and ESPN chairman Jimmy Pitaro.
Mr. Iger is expected to name his successor in early 2026.
Do you think Bob Iger’s salary increase is expected? Or is it much too high? Share your thoughts in the comments!
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