food IS a theme park
It hasn’t been the best year for The Walt Disney Company.
Magic Kingdom
Disney CEO Bob Iger has been in the news for comments on Disney’s “woke agenda” and the proxy battle that has just been launched against his leadership. But, with 2023 coming to a close, we’re learning more about just how Iger feels about himself.
On Sunday, November 20th, Disney announced that Bob Iger would be taking over the position of The Walt Disney Company CEO as Bob Chapek steps back.
©Reuters
Since the news broke, we’ve seen stock rise and learned why this decision was made when it was. Disney fans and celebrities have been sharing their opinions on social media as well. But now, Bob Iger’s salary and more details about the switch in CEOs has been released.
We recently reported on the 2021 salaries for Disney CEO Bob Chapek and former CEO Bob Iger.
©Disney
According to the report submitted to the Securities and Exchange Commission (which requires the salaries to be released since Disney is a publicly traded company), in 2021 Chapek made $32.46 million, and Iger made $45.9 million. These numbers are more than double the 2020 salaries, which were $14.1 million for Chapek and $21 million for Iger. Why the huge change in salaries? Let’s take a look.
2020 was a challenging year for many businesses and individuals all around the world.
A Peek at Disney World Now
When it comes to the Walt Disney Company, 2020 and the COVID-19 pandemic resulted in months where the theme parks were closed (Disneyland Paris is still closed at the moment), thousands of employees that were furloughed or laid off, and some big financial losses in the parks division. During 2020, some Disney executives also agreed to take some pay cuts — but did those pay cuts actually impact their salaries in a big way? We’re taking a look now.
Economically speaking, it has been a challenging year for many people, including the Walt Disney Company.
©CNBC
With the theme parks closed for several months, the company took a hard hit financially, eventually resulting in the layoffs of thousands of employees and temporary pay cuts for Disney’s executives. We received more insight on how this affected the company later in 2020 when Disney reported a $2.8 billion loss for the year during their Q4 earnings call. Today we have more information about Disney’s financials for last year, including how much their top executives were actually paid.Â
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