Bob Iger’s Salary is Being Amended

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Bob Iger's Salary is Being Amended

In January, The Walt Disney Company announced CEO Bob Iger’s compensation package for 2018. Just before the shareholder meeting, Iger’s salary has been amended with changes to his base salary and bonus. Overall, Iger will see a reduction in his total compensation with both his base pay and bonus dropping.

Disney shareholders will gather this  Thursday at the Company’s annual meeting. One notable change the shareholders will see is a drop in Bob Iger’s salary. The Hollywood Reporter revealed the changes Monday after the top executive’s salary amendment was revealed Monday in an SEC 8-K filing. The amendment detailed a $500,000 reduction in Iger’s base pay dropping the total pay to $3 million. Iger’s $8 million increase in his annual target bonus has also been removed. His annual target bonus of $12 million will remain.

In a statement to the Hollywood Reporter, Iger said, “I am proud to be leading The Walt Disney Company through this important time and believe the changes I, with the board, have made are in the best interest of the company.”

Iger’s total salary for 2016 came in at $43.9 million, in 2017 the top executive earned $36.3 million. In 2018, the executives reported total salary came in at $65.6 million reflecting the 80 percent raise that was originally reported.  Iger has spent considerable time recently working on the massive 21st Century Fox deal where Disney ended up paying $71.3 billion to acquire the media giant. Iger’s initial salary was established in December of 2017 just after the 21st Century Fox deal was announced.

The total reduction is a reported $13.5 million between his base salary and the bonus.

Source: The Hollywood Reporter

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