Disney’s proxy filing release has revealed enormous numbers regarding what high-level executives in the Mouse House are paid.
While some have theorized that the Disney Parks price increases—that have left more than one fan distinctly unhappy with the Mouse House—came down to some debt that Disney was hiding, and it became publically known that Disney lost over $120 billion in 2022, it seems more than one Disney executive has walked away from the year with a big fat paycheck, no matter how long their service to the Walt Disney Company lasted.
The latest in the long list, as reported by the Wall Street Journal, is Geoff Morrell, the former chief corporate-affairs officer of the Walt Disney Company who served a notably short stint with the Mouse House. Mr. Morrell started with the Walt Disney Company on January 24, 2022, and quit a short four months later after a scandal that caused aftershocks that are still impacting the Walt Disney Company today: Disney’s involvement with the Parental Rights in Education bill, commonly referred to by opposition as the “Don’t Say Gay” bill.
As WSJ reports,
Mr. Morrell and others advocated an approach that kept Disney out of the political fray, opting not to weigh in on charged matters as his predecessor, Robert Iger, had.
Unfortunately for Mr. Morrell and Mr. Chapek, the poor handling of the situation led Disney to be criticized by parties on both sides of the political spectrum, leaving their image firmly tarnished and making them a constant target of Florida Gov Ron DeSantis. Part of Morrell’s role was serving as the company’s head of communications and government relations. Prior to that, he had worked at the Pentagon and at the global energy company BP PLC. It makes sense then that this scandal going poorly in part appears to have led to his departure.
Unfortunately for Morrell, this wasn’t all. He also accidentally tweeted the secret opening date of the Guardians of the Galaxy: Cosmic Rewind roller coaster.
That’s Geoff Morrell, the man who, in the 70 days he worked for Disney, earned $8,365,403 in total compensation per a proxy statement that Disney filed. That comes out to about $119,505 a day. Now, if we account for the payouts associated with his termination, that number shoots up by almost $60,000 to $176,746.
That isn’t all. Disney also paid Mr. Morrell about $500,000 to move his family to Los Angeles from London and another $500,000 to move away when he lost his job.
Disney certainly plays ball with some highly-paid executives.