In case you’ve been living under a rock–or a mound of green beans and sweet potatoes in preparation for your family’s Thanksgiving Day celebration–Disney’s beloved Bob Iger is back, and the less-than-capable Chapek is out as king of the Mouse House, and we’ve got details on exactly how much it took to get Iger to embrace his Mickey ears once again.
The incomparable Bob Iger first became CEO of The Walt Disney Company in 2005, though his tenure with the company began years earlier when he joined a Disney-owned ABC television station as their weather reporter.
He spent more than 47 years with the company. But in as early as 2018, Iger began to formulate his exit plan–an exit plan that wouldn’t fully fulfill its mission until December 31, 2021, when Iger finally bid Mickey and the gang farewell once and for all.
Or so we thought.
On Sunday evening, just 12 days after the Disney Company’s most recent earnings call, all of Wall Street, Hollywood, and the Disneyverse were shocked by Disney’s announcement that Chapek was out effective immediately, and Iger was back in the saddle again.
It goes without saying that Disney no doubt made it worth Iger’s while to put down his golf clubs and set his new partnerships on the back burner and head back to the House of Mouse. Now we have details on the contract Iger accepted as part of his return back to Walt’s company.
Scott Gustin with Nexstar Media Group tweeted details about Iger’s new contract:
Bob Iger will be paid an annual base salary of $1 million with a possible 100% annual bonus. He’ll also “be granted a long-term incentive award having a target value of $25 million” for each fiscal year in the agreement. His term is currently set to end December 31, 2024.
NEW: Bob Iger will be paid an annual base salary of $1 million with a possible 100% annual bonus. He'll also "be granted a long-term incentive award having a target value of $25 million" for each fiscal year in the agreement. His term is currently set to end December 31, 2024.
— Scott Gustin (@ScottGustin) November 21, 2022
Iger’s contract is only good through December 31, 2024, at which time the Company hopes to have a replacement for Iger.