Bob Iger Disney (YouTube clip)
Bob Iger can expect to make at least $54 million over the next two years now that he has returned to helm Disney, according to the company’s financial filings. And he could make even more than that with all sorts of bonus pay. And the people at Disney, apparently don’t mind this at all as they seem pleased to have Bob Iger back in charge.
So do Disney investors as the company’s stock jumped by more than 10% Monday at one point – closing at a 6.19% raise.
“Mr. Iger has the deep respect of Disney’s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide–all of which will allow for a seamless transition of leadership,” Disney said about Bob Iger’s return.
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But one person who is clearly not happy with Bob Iger’s return is the man that he replaced, Bob Chapek. And he was taken by surprise at the decision. According to the New York Post, insiders said that Chapek was “blindsided by the move” and that “at the end of last week he did not know what was about to happen.”
However, Disney’s CFO Christine McCarthy told investors that she personally had lost confidence in Chapek. The losses are said to be directly related to a less-than-stellar performance by Disney’s new streaming service, something that Chapek oversaw.
Robert A. Iger was previously Chief Executive Officer and Chairman of The Walt Disney Company from 2005 to 2020, then Executive Chairman and Chairman of the Board through 2021. This came two weeks ago as she spoke with investors about Disney’s worse than expected loss of $1.5 billion in Q3 2022.
Over his 15 years leading Disney, Mr. Iger was the steward of one of the world’s largest media companies. He expanded Disney’s portfolio, leading the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox and increased the Company’s market capitalization fivefold during his time as CEO.
