Disney Chief Executive Officer Bob Iger has announced that his 2023 pay will rise even as the struggling entertainment giant struggles to rebuild and fend off attacks from activist investor Nelson Peltz. It was expected to reach $31.6 million.
Mr. Iger's salary package included a base salary of $865,385, plus $16.1 million in stock compensation, $10 million in stock options, $2.14 million in cash bonuses, and $2.48 million in other compensation. According to the SEC statement Filed on Tuesday.
Iger brought in total compensation of $15 million in 2022, but served as CEO for less than a year, replacing Bob Chapek, who had held the top job for two years, in November of that year. I have returned. Mr. Iger's last full year salary totaled $45.9 million in 2021.
The CEO came out of retirement to put Disney back on track for growth after a series of missteps by Chapek and the pandemic devastated the company's theme parks, cruises, movies, TV and streaming divisions.
Iger is now scrambling to get the company back to where it was before the pandemic by cutting costs, finding ways to license content and raise money.
He also cut more than 8,000 jobs at Disney, among other restructuring measures.
One of the CEO's biggest challenges will be to make Disney's streaming business profitable and determine the future strategic direction for sports network ESPN, which could include selling a stake to the NFL. There is a gender.
Iger will also have to restore Marvel and Pixar to box office supremacy after rare box office failures.
Meanwhile, the CEO has activist investor Nelson Peltz breathing down his neck. On Tuesday, Disney's board formally rejected two candidates nominated by Mr. Peltz's Trian Fund Management: Mr. Peltz and James Laszlo, Disney's former chief financial officer.
It also advised shareholders not to vote for the three candidates proposed by Blackwells Capital.
The Board of Directors has also identified 12 candidates it is recommending for election at the 2024 Annual General Meeting.
The date has not yet been announced.
They also include the Eiger. Mark Parker serves as chairman of Disney's board of directors and executive chairman of Nike. Mary Barra, GM Chairman and CEO. Safra Catz, CEO of Oracle; Amy Cheung, director of Procter & Gamble; Carolyn Everson, Director of Coca-Cola and Under Armour. Michael BG Froman, Chairman of the Council on Foreign Relations;
Additional nominees are Maria Elena Lagomasino, CEO and Managing Partner of WE Family Offices and current board member of The Coca-Cola Company. Calvin McDonald, CEO of Lululemon Athletica. Delica Rice, director of The Carlyle Group, Bristol-Myers Squibb, and Target;
