Disney CEO Bob Iger's 2023 Salary Revealed; Lower Than $45.9 Million Pay In 2021
Disney CEO Bob Iger received a multimillion-dollar payout for 2023, but the figure was much lower than his 2021 salary.
According to The Walt Disney Company's annual proxy statement, filed Tuesday, Iger, who returned as the company's chief executive in late 2022, received a total compensation of $31.6 million in 2023.
Iger's 2023 pay package included a base salary of $865,385, stock awards amounting to 16.1 million, and stock-option awards of $10 million.
He also received a cash bonus of $2.14 million and additional compensation of $2.48 million, according to the filing.
Iger's 2023 salary was higher than his 2022 total compensation, which was $15 million. However, it was significantly lower than the $65.6 million he received in 2018 and the $45.9 million in 2021.
The declining value of Disney's stock and a smaller base salary were partly to blame for his pay cut, the Los Angeles Times noted.
Iger served as Disney's CEO for 15 years before stepping down in February 2020. He left the company entirely at the end of 2021 after serving as executive chairman for two years to help his successor, Bob Chapek.
However, Iger reemerged from retirement in November 2022 to serve as interim CEO after Chapek was fired.
Chapek received $9.9 million in total compensation from Disney last year despite his ouster, according to the filing.
Iger's tenure as CEO was marked by numerous achievements, including the acquisition of major entertainment assets like Pixar, Marvel and Lucasfilm, as well as the successful launch of the Disney+ streaming service.
But over the past year, Disney encountered mounting challenges, including a series of underperforming box office releases, a diminishing audience for traditional linear TV and a rocky transition into streaming.
According to an August 2023 Forbes report, Disney spent nearly $1 billion on four streaming and film flops last year.
These included "Ant-Man and the Wasp: Quantumania" and "The Little Mermaid," which cost the company $193.2 million and $265.5 million, respectively.
"Secret Invasion," whose CGI and plot holes were widely criticized by fans, had a budget of $211.6 million, according to the outlet.
Meanwhile, "Indiana Jones and the Dial of Destiny" racked up pre-production, filming and one-month post-production expenses of $294.7 million, per U.K. Express.
In November 2023, Disney announced plans to cut an additional $2 billion in expenses. This comes on top of an initial $5.5 billion reduction, Variety reported.
During an earnings call for the fourth quarter in November, Iger proudly highlighted the strides the company had taken to enhance its business. However, he candidly acknowledged that there was more work ahead to fully achieve their goals.
