Disney’s CEO, Bob Iger, experienced a significant increase in his total compensation during the fiscal year 2024, reaching $41.1 million, a 30% increase compared to the $31.6 million from the previous year. This information was revealed in the company’s annual report, coinciding with the planned succession process for late 2026, when Iger’s contract ends.
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Iger's compensation includes a $1 million base salary, with the majority coming from performance-based incentives: $18.3 million in stock awards, $12 million in stock options, $7.2 million in non-stock-based compensation, and $2.1 million classified as "other."
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Other prominent executives also received considerable compensation. Hugh Johnston, CFO of Disney since December 2023, received $24.5 million, while Horacio Gutiérrez, Senior Executive Vice President and Chief Legal Officer, earned $15.8 million, a significant increase from the $11.6 million of the previous year.
Business context and next steps
The report also points out that the annual shareholder meeting will be held virtually on March 20. At the 2024 meeting, Iger faced challenges from activist shareholders demanding structural changes in the company. Although he managed to overcome these challenges, he implemented measures to address the criticisms related to the operation of the film studios and operating costs.
This year, no similar confrontations are anticipated, but shareholders will vote on three proposals related to climate investments, corporate equality, and advertising on platforms with controversial political and religious stances. There will also be an advisory vote on executive compensation, although it is not binding, so the final decisions rest with the company's management.
With Iger's contract nearing its end in 2026, Disney plans to choose his successor no later than early that year. This process marks a crucial point for the company as it navigates a competitive environment and prepares to maintain its leadership in the global entertainment industry.