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Disney CEO Bob Iger implemented cost-cutting measures last year, including laying off thousands of employees, and raised millions of dollars in a battle with activist investor Nelson Peltz.
The company reported in an SEC filing Tuesday that Iger's total compensation for 2023 will be nearly $31.6 million, including $865,385 in salary, $16.1 million in stock and $10 million worth of options.
Robert Iger speaks on stage at the New York Times Dealbook Summit at Jazz at Lincoln Center in New York City on November 29, 2023. (Slaven Vlasic/Getty Images for The New York Times/Getty Images)
That amount is more than double the $15 million Iger received in 2022, when he returned to command for a second time, but it falls short of the $45.9 million he earned in 2021, his last full year on the job.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| DIS | walt disney company | 93.05 | +2.70 | +2.99% |
Disney's Iger plans to retire in 2026, says Chapek's tenure was 'disappointing'
Iger has been on a cost-cutting mission since firing former CEO Bob Chapek at the end of 2022, impacting multiple companies at the entertainment giant that last year affected more than 7,000 employees. Oversaw staff reductions.
Mr. Iger reflected on Mr. Capek's tumultuous tenure at the New York Times' Dealbook Summit last year.
“Again, I wasn’t happy with what I was seeing. I worked hard over that period, a long period of time, to grow the company to what it is now. “I was proud of my accomplishments. When you give something away, it hurts. Your heart and soul are very dear to you and you are going through a difficult time,” he explained.
The entrance to Walt Disney World on May 22, 2023 in Orlando, Florida. (Joe Radle/Getty Images)
Iger said in a letter to shareholders this week that Disney is on track to meet the $7.5 billion cost-cutting goal it announced during last year's fourth-quarter earnings call.
The company is also asking shareholders to reject board nominations. Peltz Triumph Fund Managementdetails are provided in a separate SEC filing.
Disney's Bob Iger talks about recent box office and studio achievements
News of Iger's latest compensation reportedly raised some eyebrows among Disney employees.
FOX Business” Charles Gasparino reported on X On Wednesday, he wrote, “Following information that @Disney is doubling @RobertIger's salary while he plans to freeze his salary, eliminate bonuses and re-layoffs at the network among producers. “There was a huge disagreement, especially on @ABC.”
“I've never seen it,” one producer told Gasparino. [morale] This low. ”
Last summer, Mr. Iger hinted in an interview with CNBC that he might sell some of the company's media assets, including ESPN, but later toned down his comments.
ABC Building at Walt Disney Studios on February 9, 2023 in Burbank, California. Walt Disney Company. (Eric Thayer/via Bloomberg/Getty Images)
Over the past 12 months, Disney stock has fallen 7%, compared with a 19% rise in the S&P 500.
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Disney did not immediately respond to FOX Business' request for comment.
Reuters contributed to this report.
