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Disney more than doubled pay packages for Bob Iger, Bob Chapek in 2021

Disney’s former and current CEOs — Bob Iger and Bob Chapek, respectively — got hefty pay days as the entertainment giant praised their handling of the business during the pandemic. Iger, who stepped down as CEO in 2020 and as executive chairman late last year, left the Mouse House with a total compensation package worth $45.9 million, more than doubling his $21 million take for the prior year. The exec, who spent 15 years at the helm, earned a $3 million salary and a whopping $22.9 million cash bonus in 2021 in addition to $9.5 million in Disney stock and $9.3 million in stock options. That does not include stock Iger was entitled to get when his contract expired at the end of calendar 2021, worth $231 million as of Oct. 1, according to a securities filing. Iger, who oversaw Disney’s creative projects during his last two years at the firm, was praised for his “deft” management of the business as the pandemic spurred numerous production delays. The longtime exec also created a “pipeline” across various Disney departments to help funnel new shows to Disney+, the company’s all-important streaming service, the filing said. Meanwhile, Disney’s current CEO Chapek earned $32.5 million in compensation, more than double the $14.2 million he took home a year earlier. For the fiscal year ended Oct. 2, Chapek’s salary was $2.5 million, his stock awards totaled $10,2 million and his options amounted to $3.8 million. The CEO also reeled in a $14.3 million cash bonus. Disney said Chapek’s handsome compensation was linked to his management during the pandemic, which has squeezed the company’s theme park and movie business, in particular. Neither exec received bonuses in 2020 amid the height of the pandemic. “Mr. Chapek, as Chief Executive Officer, delivered strong performance given the unprecedented challenges resulting from the COVID-19 pandemic and meaningful shareholder value, driven by exceptional execution of the Company’s key strategic initiatives,” the Mouse House said in the filing.

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