Disney CEO Bob Iger’s total compensation package increased to $41.1 million in fiscal 2024, up 30% from $31.6 million the previous year.
The salary figures were released Thursday in the company’s annual proxy report, which comes as the succession process at Disney ramps up ahead of Iger’s contract expiration on December 31, 2026. The business has stated that his replacement, who will be chosen from a pool of four internal and external applicants, will be appointed by early 2026.
Hugh Johnston, a former PepsiCo executive who will become CFO of Disney in December 2023, earned $24.5 million last year. Horacio Guttierez, Disney’s Senior EVP and Chief Legal and Compliance Officer, earned $15.8 million, up from $11.6 million in fiscal 2023.
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The company announced that its annual shareholder meeting will be held virtually on March 20. The meeting a year ago was a test for Iger, who was up against many activist shareholders vying for board seats, as well as widespread company changes. Iger and the company were able to outmaneuver Nelson Peltz’s major challenge, albeit Iger addressed many of Peltz’s issues about film studio dysfunction and excessive expenses during the proxy struggle.
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This year’s gathering is unlikely to be as dramatic as previous ones. The company is urging “no” votes on three shareholder proposals dealing with climate-related investments by the company’s retirement plan, participation in the Human Rights Campaign’s annual Corporate Equality Index, and a bid to get the company to admit steering ad and promotional dollars away from platforms “for expressing disfavored political and religious viewpoints.”
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