Disney CEO, Bob Iger has received a pay raise to his annual salary. The Walt Disney Company revealed in the SEC filing this past Friday Iger’s salary was up 80 percent to $65.6 million.
Other executives salaries were also reported. CFO Christine McCarthy collected earnings totaling $11.8 million, general counsel Alan Braverman earned $10.4 million, chief strategy officer Kevin Mayer earned $11.6 million, and chief human resources officer Jayne Parker totaled $6.8 million.
In 2017 Iger’s salary totaled $36.3 million, down from his 2016 salary of $43.9 million. His 2018 salary was comprised of $2.875 million, $35.5 million in stock awards, and options of $8.3 million. While the salary and stock shares were up the options were unchanged for 2018.
The Walt Disney Company had the major acquisition of 21st Century Fox in 2018 a the result of a bidding war that lasted much of the year. Disney beat out the other key player, Comcast with a payment of $71.3 billion. In the deal, Disney acquired multiple pieces of 21st Century Fox, a few notable inclusions are the broadcast network, Fox film and TV studio, Star India and multiple cable channels.
While the company did have the major acquisition of 21st Century Fox, it did see the price of shares fall in the correction of the stock market that occurred in the last few days of 2018. Disney was not alone in the market correction, as most industries including others in the entertainment field saw the same reduction in the price of shares. At the end of the fiscal year, shares of the Walt Disney Company were right at 21 percent higher. The fiscal year ended September 29, 2018.
After the filing Friday the Walt Disney Company announced Derica Rice, the executive of CVS Health and CVS Caremark has been nominated for election to a position for director at the annual shareholder meeting planned for March 7, 2019. Iger responded to the nomination by remarking, “As a well-respected leader in a dynamic, consumer-facing industry, Mr. Rice will bring a wealth of expertise to our board.”
Overall, the year was quite positive for the Walt Disney Corporation. In addition to the 21 percent increase of the company’s stock value at the end of the 2018 fiscal year, Disney earned $12.6 billion. The earnings were up 40 percent. The overall revenues saw an 8 percent increase to $59.4 billion.
source: The Hollywood Reporter
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I completely agree, Marsha. As someone who doesn’t have respect for Walt’s ideology and just wants to force IPs into and onto everything, Iger is the WORST type of executive. Greedy for sure, why not pass on profits to employees or better yet, improve guest experience by upping the entertainment dept budget to what it was 12yrs ago, with more characters, parades at all four parks and a nighttime MK parade again!!! He was supposed to retire a while back but was “asked” by the board to stay on. Maybe Walt Disney company needs new board members as well.
As a 200% Disney fan, I find it disheartening that you give the CEO on 80% pay increase, and he excepts it, while jacking up the prices of Disney park tickets and packages, and the cost of Disney cruise packages. It would behoove the Disney company, its board and Mr. Iger to remember who made you that successful in the first place. If it weren’t for the public buying your brand, you wouldn’t have this success. How about passing some of that back to your biggest supporters? I understand, Disney is ultimately a business. But there is a big difference between being succesful and being downright greedy.