New York
CNN Business
—
Bob Iger, who surprised the media international when he returned as CEO of Disney on Sunday, will as soon as once more be a number of the highest-paid executives in Hollywood.
Iger will earn a $1 million base wage as he’s taking over Disney
(DIS), in line with an organization submitting with Securities and Exchange Commission. However, that repayment comes with an annual bonus as much as $1 million in addition to an annual incentive-based award with a goal worth of $25 million. That implies that Iger has the opportunity of pulling in round $27 million.
Iger’s tenure started on November 20 and can run till December 31, 2024, in line with the submitting.
Although $27 million is some huge cash, it’s not up to the kind of $46 million he made in overall repayment when he left the corporate on the finish of ultimate 12 months.
Disney stated on Sunday evening that Iger, one of the vital a success CEOs within the historical past of the corporate, could be returning to run the media empire. It used to be a shocking construction at Hollywood’s largest corporate.
The announcement comes at a time of serious evolution and scrutiny for Disney. The corporate is coming off a lackluster profits that confirmed enlargement for its streaming endeavors. However, that enlargement got here at an excellent value. Disney’s streaming trade misplaced $1.5 billion within the fourth quarter. That information despatched Disney’s inventory tumbling after a 12 months of gradual efficiency.
Iger is changing Bob Chapek, who had a brief however bumpy tenure as the pinnacle of Disney after taking up originally of the pandemic in 2020.
On Monday, Iger made his first strikes as CEO via reorganizing Disney’s content material distribution construction.
The CEO stated in a memo to staff that Kareem Daniel, the chairman of Disney’s Media and Entertainment Distribution unit, will probably be leaving the corporate.
As for Disney Media and Entertainment Distribution, Iger notes in a memo to staff that “without question, elements of DMED will remain, but I fundamentally believe that storytelling is what fuels this company, and it belongs at the center of how we organize our businesses.”
