Whatever else is suffering, higher-level executives and hires, including the Mouse House’s new legal counsel, certainly don’t seem to be seeing a loss.
The Walt Disney Company has seen a notable shakeup recently. Over the last few months, starting with the Bob Chapek’s exit from the House of Mouse, to some Chapek allies, including Kareem Daniel’s and Chapek’s speechwriter’s exits from the company as well. Recently, we even learned of board chairman Susan E. Arnold’s upcoming departure and her replacement.
Now, we’ve received news of the legal counsel for the Walt Disney Company and a rather hefty pay package that he’s been awarded for his services.
As reported by Bloomberg Law,
The Walt Disney Co. gave its new general counsel Horacio Gutierrez a pay package valued at nearly $15.2 million in 2022, according to a proxy statement filed Tuesday. Gutierrez was hired by Disney in December 2021 to succeed the company’s retired longtime legal chief Alan Braverman.
Gutierrez was formerly chief legal officer and global affairs officer at Spotify Technology SA. Previously he was also at Microsoft Corp and spent nearly six years at Spotify before joining Disney’s forces in February 2022. Disney revealed that at the time, Gutierrez received a pay package valued at roughly $22 million in salary, bonus, and equity awards to recruit him from Spotify.
When it comes to his 2022 payout, Disney’s new legal counsel saw stock and options awards make up nearly $8.5 million of his total compensation last year. His name is popping up more frequently now with the fight that Disney finds itself in with activist investor Nelson Peltz and his Trian Fund Management LP. The investor has been taking shots at the Walt Disney Company and has been angling for a seat on Disney’s board even though the company shows no signs of giving up its position of not allowing the investor on board.
Per Gutierrez’s description on the Walt Disney Company’s website:
Horacio Gutierrez is Senior Executive Vice President and General Counsel of The Walt Disney Company. In this role, Mr. Gutierrez serves as the chief legal officer of the Company, overseeing its team of attorneys responsible for all aspects of Disney’s legal affairs around the world, and acting as a strategic advisor to executive leadership and the Board of Directors.
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