Disney CEO Bob Iger’s Salary Dropped To Just $36.3 Million In 2017
Bob Iger, the CEO of the Walt Disney Company, suffered a 17% year-over-year decline in his salary for 2017, earning just $36.3 million. It is the smallest compensation package he has received since 2013.
But like every Disney fairytale, the story of Iger’s salary has a happy ending. Thanks to Disney’s $52.4 billion acquisition of 21st Century Fox, Iger will be granted a bonus of 245,098 shares of Disney stock. Those shares are currently valued around $27.5 million.
Further, he is entitled to an additional 687,898 performance-based shares of stock that are subject to the completion of the Fox deal and meeting certain financial targets. That bonus is worth at least $77.3 million and will vest in 2021.
In addition to the bonuses, the Disney board of directors also extended Iger’s contract through the end of 2021, followed by a $2 million annual consulting fee that extends through 2026. Iger will also continue to receive $900,000 annually for personal security services through 2026.
Here are the annual salary amounts that Iger has received since 2010:
2010 – $28 million
2011 – $33.4 million
2012- $40.2 million
2013 – $34.3 million
2014 – $46.5 million
2015 – $44.9 million
2016 – $43.9 million
2017 – $36.3 million
Other key Disney execs also shared Iger’s financial pain in 2017, experiencing salary declines of between $500,000 to $2.7 million:
- CFO Christine McCarthy: $8.9 million (down from $10.2 million in 2016)
- General counsel Alan Braverman: $8.4 million (down from $11.1 million in 2016)
- Chief strategy officer Kevin Mayer: $8.4 million (down from $10.1 million in 2016)
- Chief human resources officer Jayne Parker: $5.1 million (down from $5.6 million in 2016)
The disclosure of these salaries was made in Disney’s proxy statement filing with the Securities and Exchange Commission (SEC), which can be read in full here.