There’s been quite a buzz surrounding The Walt Disney Company recently, and more specifically its CEO, Bob Chapek.
Bob Chapek
At first, it was expected that his contract would be extended, and later the company’s Board of Directors did vote to extend Chapek’s contract by three years — despite some of the public’s outspoken dislike for the CEO. And now, more information has been shared about the details of that contract extension.
According to a report from the United States Securities and Exchange Commission, Walt Disney Company CEO, Bob Chapek, stands to earn “a long-term incentive award having a target value of not less than $20 million annually.” This news comes after the company’s Board of Directors voted to extend Chapek’s contract, which was set to expire in 2023.
Disney CEO Bob Chapek in Disney World on its 50th Anniversary
The SEC filing goes on to state, “These awards do not guarantee Mr. Chapek any minimum amount of compensation. The actual amounts payable to Mr. Chapek in respect of such opportunities will be determined based on the extent to which any performance conditions and/or service conditions applicable to such awards are satisfied and on the value of the Company’s stock.”
©Bloomberg
Essentially, Chapek’s bonus will be based on how well The Walt Disney Company performs annually. The report also indicates that no changes have been made to the CEO’s base salary, and it will remain the same despite the contract renewal.
The current Chairman of the Board, Susan Arnold, has previously voiced the Board’s support for Chapek, stating, “Bob is the right leader at the right time for The Walt Disney Company, and the Board has full confidence in him and his leadership team.”
©Disney || Bob Chapek
We’ll continue to keep an eye out for more news on Bob Chapek and The Walt Disney Company, so be sure to stay tuned to DFB for the latest.
Click Here to Read the REAL Reason You’re Spending MORE in Disney World Now
Interested in learning more about Bob Chapek? Click here to read what he has to say about price increases in the parks. He also commented on Disney’s Park Pass Reservation System, and you can read all about that here.
For more Chapek salary news, read our posts here and here.
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You know, Chapek is just the face of all the decision making that has been going on at Disney lately….
This comment just shows you :
** The current Chairman of the Board, Susan Arnold, has previously voiced the Board’s support for Chapek, stating, “Bob is the right leader at the right time for The Walt Disney Company, and the Board has full confidence in him and his leadership team.”
Disney will not change its ways UNLESS THE PEOPLE stop shelling out money for subpar experiences. Rides break down constantly, unavailable rides because you didn’t get genie + or know how to work it, unwilling to stand in hours long ques, and perks that were special to Disney being taken away and that’s just the parks. Not to mention all the Disney Stores are closed and the underpaying of its employees. Its not just Chapek, its the whole board making these decisions and clapping and rewarding him for dismantling what was so special not only to Disney but the families that save and visit. Disney fans complain and write on blog boards but the Decision Makers don’t see this or if they do acknowledge this , they know the fans are going to come anyway, are going to buy merchandise anyway, subscribe to Disney + anyway because we love it so. And there isn’t anything WE CAN DO ABOUT IT. That’s the saddest part.
Very well said Lindsay. It’s clear the people running the show not only approve of the changes made, but encourage them by giving this bonus. Barring a change of heart, where is the motivation to change when the board promises a $20 million dollar bonus, annually, for these changes?
We all know what needs to happen next because all the chats, comments, replies in the world aren’t moving the needle one bit with Disney executives. The kids and I are deciding whether we’re going to Jellystone Park (hour and a half drive) or a camping/river trip to New Braunfels, followed by a day in Boerne, TX to shop and eat on the Hill Country Mile. Great family time. It’ll take twenty minutes to reserve a campsite on the river then a hotel in Boerne. Compare that to the time dedicated solely to learning/executing, often on the fly, Genie +.
We just did 8 days in WDW and I’m very grateful for the wonderful family time we had, but compare the twenty minutes it’ll take to plan our next trip to the time I spent planning/learning/ Genie + and hustling to get to every ride/attraction/dining res/etc (by the way, we were in such a constant hurry we didn’t get a photo in front of MK by the flowers). One day at MK we got there right after rope drop and were on our way to Tomorrow land and saw the line for 7 Dwarves stretching forever and some poor cast member had to tell all the people standing in line (imagine how early they got up and how long they’ve been planning this day) that the ride was broke down. Honestly, what do you do at that point? Bail and ride other rides, or wait it out?
I’m not just throwing rocks, I genuinely want Disney to change back. I fell in love with WDW on a trip with my little girl years ago when while walking through the MK she reached up, took my hand, and we just started skipping down Main Street USA together. If you asked me in that moment what I did for a living, it would take me a minute to remember. It was that special. Again, I’m very grateful for the fun we had, and the memories we made on our recent trip. But it’s changing. I can honestly say after our recent visit, this… ain’t that no more and it’s for a very specific reason. I want the house that Walt and Mickey built back please.
Obviously chapel is a member in good standing of the management firm of Dewey Gougem and Howe.
Overpaid by more than 20m. Need a new leader…
Ain’t that a kick in the head.
What would Walt Disney Do?
Maybe one thing we can do if you are a shareholder is Vote against the same Board of directors.
Just what CHEAPEK needed, more incentive to continue messing up WDW. YIKES !!!!!!
That it it. I am done.
Should have been that IS it. See how upset I am?
Someone has to pay for Chapstick’s bonuses.. Who would that be? …….. Oh yes……US!
If we all stick together and not show up to either park, this will definitely get their attention.
How does Disney dare to release a statement giving a $20 million dollar bonus to ANYONE when all they do is cry “poverty” due to what COVID has cost them. This man has made decisions that are hurting the fan base in a huge way. Why not take that $20 million annually and apply it to the parks so people can continue to afford to go to them. THAT WOULD BE A MORE “Walt like “ use of the money. And how about this… Chapek has to give back a million of his own money every time the stocks drop a point. Sounds fair to me! This is just a shame. Disney what have you come to?
What a disgrace that has happened to Disney world no more fast passes no more Disney express and want to charge any one to park their car each. Night staying at Disney resort And then to have us stay on our phones to schedule Attractions and to eat and then attractions break down and we r suppose to rush to get there on time for the rides and to pay to walk into the parks on the streets what n the world is the benefit of that and to constantly b on our phones when we r suppose to relax so with that we r done going there the only way this will ever stop is for people to stop going and put an end to the GREED universal studios will now get our Money and a place called holiday world n Indiana they have awesome rides and multiple water rides we have done there many times with family and friends and will go again and again it’s well worth the money
also holiday world n Indiana made the recent top 10 list to go to and Disney did not holiday was 9th. spot out of top 10 places to go to and like I said it’s well worth it that’s why our family and Friends will keep that as one of best places to go to and will go to universal studios for the first time we r looking forward to that we think that will b worth our money with family and friends we will b a group of 15
Maybe as a shareholder we should vote against those board of directors.
We tried the Genie + once and it wasn’t worth it for a couple of rides. You can always time the rides without it . DFB has a Video on doing just that. We have done that it works well.
I was hoping he would fired. He is ruining a great company started by a true visionary We have 1 more trip planned for 2023 – after that we may be done. We’ll start going to Universal if Disney keeps going down hill.
Very sad.
Can’t believe they extended his contract. He does NOTHING for the betterment of the Disney experience and in fact has made it much worse. I hate park pass reservations/having to bring my phone to the parks/Genie Plus. Please make Disney more about enjoying the day.
Geno thank u for the info about dfb video on how to time rides we agree we do not want to and will not use the genie to go on rides if we decide to ever go there again disney world is believing destroyed from all the things we have heard we think Universal is the one we give great thought to and the portafino sounds very tempting it breaks our hearts about the possibility of never going to Disney again my family as well as a lot of others grew up on Disney and Walt Disney put so much magic m our lives and smiles on our faces and we all went to Disney we r all 5 years again b cause of what he created and that wonderful pixie dust that was always there and that mouse that started it all and now we r so sad because of what has happened
Ditto!!!
The entire board needs changed before there is no reason to go to Disney anymore.
They should have focused on repairing rides and attractions correctly instead of getting all political and allow the attractions to fail. Why does he need $20 million? For doing what? Chapek must be a big puppet willing to do whatever he is told instead of fighting for the right thing. Remember he took a bonus during the covid shut down. Then hiked prices and took away things.
I’m sad and frustrated.