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Disney boomerang CEO Bob Iger will get $27 million a year

Disney boomerang CEO Bob Iger will get $27 million a year

Walt disney will pay Bob Iger about $27 million a year for his return as CEO under a new two-year deal.

Iger will receive a base salary of $1 million and a bonus equal to that amount, according to a company filing Monday. In addition, he will receive shares with a target value of $25 million each year.

Disney, the world’s largest entertainment company, announced on Sunday that Bob Chapek is stepping down as CEO immediately, to be replaced by Iger, who led the company for 15 years before retiring in December 2021.

The amount, which depends on the performance of Disney shares, is not as large as some of the company’s compensation packages. Chapek, who was named CEO in February 2020, received $32.5 million in total compensation in fiscal 2021. Iger, who was then executive chairman, received $45.9 million.

Disney has sought to rein in its top executive’s compensation in recent years after regularly receiving criticism from corporate governance experts.

Media executives regularly top the list of the highest paid American executives. David Zaslav, CEO of Discovery of Warner Bros. Inc., received $247 million last year.

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