Disney Leaders Bob Iger, Bob Chapek Forgo Bonuses, but Still Rake in Millions

Disney Leaders Bob Iger, Bob Chapek Forgo Bonuses, but Still Rake in Millions
Bob Iger and Bob Chapek, the two men in charge of the Walt Disney Company, saw their pay packages shrink in 2020 after forgoing bonuses that could have added millions of dollars to their compensation.

The belt-tightening came after Disney announced it would lay off 32,000 people, with most of those cuts coming in its parks, experiences and products segment. Covid-19 has upended the media giant’s business, shuttering its theme parks for months, closing down its Broadway shows and leaving many of its theatrically released movies in limbo. The company has instead devoted more resources to streaming services such as Disney Plus, which it hopes can take on Netflix, and recently did away with its dividend.

Iger, who serves as Walt Disney’s executive chairman after more than a decade as the company’s CEO, saw his pay package cut in half to $21 million for the fiscal year that ends in September,
See full article at Variety »

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