BURBANK, Calif. – The Walt Disney Company on Tuesday revealed how much total compensation its top executives were awarded in fiscal 2020.
What You Need To Know
- Disney Co. releases executive compensation for 2020
- CEO Bob Chapek made $14M in total compesation (salary and stock awards)
- Executive chairman Bob Iger made $21 million in total compensation
- Disney shuttered parks, canceled cruises, laid off workers over pandemic
Disney executive chairman Bob Iger, who stepped down as CEO in late February, earned $21 million last year, down from the $47 million he made in 2019. That compensation includes a $1.6 million salary and stock awards and options. Current Disney CEO Bob Chapek made $14.2 million in total compensation, according to a regulatory filing released Tuesday.
In the wake of the pandemic, the company decided to eliminate bonuses for top executives, who also agreed to temporary pay cuts last year. Iger agreed to forgo his entire salary through the end of the fiscal year. Chapek agreed to forgo 50% of his $1.8 million salary.
Disney was hit hard by the pandemic, leading the company to cancel sailings on its cruise line, postpone major film releases, and shutter its theme parks.
The company laid off about 32,000 employees mainly in its parks division. Disneyland in California has been closed since March.