Disney CEO Bob Iger’s 2024 Compensation Package Skyrockets by 30%
Disney’s CEO, Bob Iger, has had quite the financial year, with his total compensation package for 2024 soaring by a whopping 30% compared to the previous year. An SEC filing from The Walt Disney Company unveiled that Bob Iger’s total compensation in 2024 reached an astonishing $41.1 million, a significant increase from $31.6 million in 2023. Let’s delve into the breakdown of this remarkable compensation hike.
Bob Iger Makes $41.1 Million in 2024
In 2024, Iger’s base pay surged from $865k to an even $1 million. His stock awards saw a notable increase, jumping from $16.1 million in 2023 to $18.3 million in 2024. Additionally, Iger’s option awards spiked from $10 million to $12 million. The most striking surge was in his non-equity incentive plan, which skyrocketed to $7.2 million in 2024, a significant leap from the $2.1 million he received in 2023. Moreover, Iger added nearly $500,000 in non-qualified deferred compensation and experienced a slight decrease in remaining compensation from $2.4 million in 2023 to $2.1 million in 2024. In total, Iger’s compensation escalated by nearly $10 million within a year.
The Walt Disney Company disclosed that the median total annual compensation for its employees stands at $55,111. Contrasting this, Iger’s $41,122,670 compensation for 2024 is approximately 746 times the median employee’s earnings at Disney. The SEC filing further revealed that CFO Hugh Johnston amassed $24.4 million, while Chief Legal Officer Horacio Gutierrez’s compensation amounted to $15.8 million. Notably, no executive officers received less compensation in 2024 compared to 2023.
Looking ahead, The Walt Disney Company is gearing up to announce its new CEO in early 2026, as Iger’s contract is slated to conclude by the end of that year.
Succession Planning Insights from Disney’s Chairman of the Board
James P. Gorman, Disney’s Chairman of the Board, shared insights into the management succession planning efforts, emphasizing the Board’s commitment to finding the right leader for the Company. The succession process is well underway, with plans for a smooth leadership transition to ensure Disney’s continued success.
Stay tuned to CineRecap.com for the latest updates, news, and insights from the world of entertainment!
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FAQ Section
- **What led to Bob Iger’s significant compensation increase in 2024?
Bob Iger’s compensation surge in 2024 was mainly driven by substantial increases in his stock awards, option awards, and non-equity incentive plan compared to the previous year.
- **How does Bob Iger’s 2024 compensation compare to the median employee’s earnings at Disney?
Bob Iger’s 2024 compensation of $41,122,670 is roughly 746 times higher than the median total annual compensation of $55,111 for Disney employees.
- **What are the key takeaways from Disney’s succession planning update?
Disney’s Chairman of the Board highlighted the active engagement in management succession planning, emphasizing the Board’s commitment to a smooth leadership transition for Disney’s continued success.
- **Who are some other executives mentioned in the SEC filing regarding compensation?
The SEC filing disclosed that CFO Hugh Johnston received $24.4 million, and Chief Legal Officer Horacio Gutierrez’s compensation was $15.8 million in 2024.
- **When is Disney expected to announce its new CEO?
Disney is set to unveil its new CEO in early 2026, with Bob Iger’s contract expiring at the end of that year.
- **What were the key components of Bob Iger’s compensation package in 2024?
Bob Iger’s 2024 compensation package included base pay, stock awards, option awards, non-equity incentive plan, non-qualified deferred compensation, and remaining compensation.
- **How has Bob Iger’s base pay changed from 2023 to 2024?
Bob Iger’s base pay increased from $865k in 2023 to an even $1 million in 2024.
- **What was the percentage increase in Bob Iger’s total compensation from 2023 to 2024?
Bob Iger’s total compensation surged by 30% from $31.6 million in 2023 to $41.1 million in 2024.
- **What is the significance of the median employee’s total annual compensation at Disney?
The median total annual compensation for employees at Disney stands at $55,111, providing context for Bob Iger’s compensation comparison.
- **What role does Disney’s Chairman of the Board play in the succession planning process?
Disney’s Chairman of the Board oversees the management succession planning process, focusing on finding the right leader for the Company and ensuring a smooth leadership transition for Disney’s future success.