Disney Chief Executive Bob Iger and his ousted successor, Bob Chapek, both received multimillion-dollar payouts during the 2023 fiscal year, according to the company’s preliminary proxy statement submitted on Tuesday. Disney paid Iger, who returned as Disney CEO in late 2022, just under $31.6 million last year. Disney also spent $1.2 million to cover Iger’s security and about $794,000 for his personal air travel. The pay cut is in part due to the declining value of Disney’s stock and a smaller base salary. More recently, Peltz’s Trian Fund Management has said Disney’s board is “too closely connected to a long-tenured CEO and too disconnected from shareholders’ interests” to be effective.

Source: Los Angeles Times January 17, 2024 08:37 UTC