Disney’s boomerang CEO Bob Iger earns $27 million annually

Walt Disney will pay Bob Iger about $27 million annually to return as chief executive under a new two-year deal.

Iger will receive a base salary of $1 million and a bonus equal to that amount, according to a company filing Monday. In addition, he will receive stock awards with a target value of $25 million each year.

Disney, the world’s largest entertainment company, announced Sunday that Bob Chapek will step down as CEO effective immediately, and Iger, who ran the company for 15 years, will retire in December 2021.

The amount, which depends on the performance of Disney stock, is not as high as some of the company’s pay packages over the years. Chapek, who was named CEO in February 2020, received $32.5 million in total salary in 2021. Iger, who was the general manager at the time, received $45.9 million.

Disney has tried to reduce the pay of its top executives in recent years after drawing regular criticism from corporate governance experts.

Media executives regularly top lists of the highest paid US executives. David Zaslav, CEO of Warner Bros. Discovery Inc., received $247 million last year.

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