WALT Disney boosted chief executive officer Bob Iger’s total pay by 30 per cent in fiscal 2024, underscoring his turnaround of the media and entertainment company.
The 73-year-old earned US$41.1 million in the year that ended in September, up from US$31.6 million in fiscal 2023, according to a filing on Thursday (Jan 23). The increase came primarily in the form of a bigger bonus, along with greater stock and option awards.
“Iger has an unmatched knowledge of the company and the creative content it produces, and an in-depth understanding of fostering innovation through technology and connecting to audiences in our markets around the world,” the board said in the filing.
Iger is in his second stint as CEO, having returned in 2022 after a previous 15-year run. In November, management projected earnings growth for the next three years and called out the improving performance of its film studio, which produced hits such as Inside Out 2 and Deadpool & Wolverine last year.
The company’s profitable streaming services, including Disney+, Hulu and ESPN+, are helping the company reduce its dependence on cable TV. Disney signed a deal earlier this month to merge its Hulu + Live TV platform with sports-focused streaming service FuboTV.
Iger is set to leave Disney in December 2026, and the board said in the filing it is “moving with urgency” in securing his successor and that internal candidates are going through “a rigorous preparation process” that includes mentoring by the CEO.
Shares of Disney rose 23 per cent in 2024, in line with the gain recorded by the S&P 500 Index. BLOOMBERG
Share with us your feedback on BT’s products and services
