Bob Iger, chief executive of Walt Disney Co., will listen at the Wall Street Journal Live Tech conference in Laguna Beach, California, USA, on Tuesday, October 22, 2019. The event will bring together investment, founders and officials to drive innovation. and driving growth within the technology industry.
Photographer: Martina Albertazzi / Bloomberg
Photographer: Martina Albertazzi / Bloomberg
Executive Chairman Walt Disney Co. saw. Bob Iger cut his pay cut 56% to $ 21 million last year, after the company banned bonuses and other compensation following the pandemic.
Chief executive Bob Chapek, who was promoted to Iger’s former position in late February, earned $ 14.2 million, one of the lowest compensation rates for the Disney CEO in more than a decade. Iger earned $ 21.9 million in 2006, his first full year as CEO.
Photographer: Martina Albertazzi / Bloomberg
Bonuses for the most compensated operators have been removed. The company’s payment affected the company’s inability to meet certain performance measures. Disney lost $ 2.8 billion last year on sales of $ 65 billion.
Disney was hit in many ways by the Covid-19 crisis, but some businesses were thriving as well. The world’s largest entertainment company closed theme parks and launched cruise ships around the world. Like other Hollywood studios, it canceled out films released in theaters, and lost live sports on television earlier in the year the company’s advertising industry.
The company postponed about 32,000 employees last year and have shut down attractions such as Disney Radio and Disneyland ‘s annual pass program.
Despite the setbacks for its businesses, Disney shares rose 25% last year. His video streaming operations set records for new customer signage as consumers moved to watch more movies and TV shows online. The stock rose 1.9% to $ 175.56 in late trading after Tuesday’s close.
Disney said it was making further changes to its compensation program in 2021, including eliminating earnings per share as a metric used to calculate bonuses. California-based company Burbank contributes to revenue growth as a benchmark.
(Updates with Iger compensation in the second paragraph, late trading in the sixth paragraph.)