A lawsuit forced Disney to reveal previously sealed documents that explain how Bob Iger reasoned a $47.5 million payday for himself.
When it comes to matters of money, it appears that Disney and Disney executives can’t stop making headlines. Recently, 9000 women were granted permission by a California judge to sue the Walt Disney Company for pay discrimination. As part of this case, hundreds of documents were unsealed and reviewed by The Hollywood Reporter.
One of these documents is a 2019 self-evaluation from Disney CEO Bob Iger—when Disney was at an all-time high—who argued the board should approve a $47.5 million compensation for his work.
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Bob Iger Argues for a Bonus Pay Out and High Base Salary Per Unsealed Company Documents
In his self-evaluation from 2019, Disney CEO Bob Iger explained that he “successfully executed a highly-anticipated Investor Day providing an extensive overview of all of our direct-to-consumer offerings” and “launched an unprecedented company-wide marketing effort.”
According to The Hollywood Reporter, this document was used by Mr. Iger to highlight “Disney’s triumphant year” and to make a case to the board “for approval of a bonus payout and his 2020 base salary.”
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As part of his accomplishments, Mr. Iger also added the “production of a fleet of original content for Disney+ (72 movies and 97 TV series in development); $10 billion in the global box office with Avengers: Endgame, The Lion King and Toy Story 4 leading the way; and Disney’s public perception as one of the country’s most trusted public companies.”
Per his arguments, the board reportedly approved a compensation package of $47.5 million. Bob Iger remained among the highest-paid executives in the United States with this payout.
You can read his full filing here.
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Of course, Mr. Iger’s 2022 return was fraught with much more tension and continues to be an uphill battle. The Walt Disney Company that he left when he first stepped into retirement is in a very different place to the one he returned to.
With the company’s stock facing some of its lowest numbers, and activist investor Nelson Peltz attacking the company and angling for a seat on the board, Mr. Iger has his work cut out for him.
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