Bob Iger’s annual pay rises 80 percent to $65.6 million

in Disney, Entertainment, Theme Parks

CREDIT: CHELSEA LAUREN/REX/SHUTTERSTOCK

Bob Iger, Chairman and Chief Executive Officer of The Walt Disney Company, has just received a pay raise of 80 percent, bringing his annual income to $65.6 million dollars.

The Walt Disney Company released the news of the pay increase on Friday, January 11, according to The Hollywood Reporter. The pay increase is said to reflect the fact that 2018 was a pivotal year of growth for the larger-than-life media company. One specific growth that came during Iger’s past year overseeing the company was Disney’s merger with 21st Century Fox.

According to The Hollywood Reporter, it was Iger who spent much of the 2018 year in a bidding war with Comcast to acquire most of 21st Century Fox’s entertainment assets, including the Fox film and TV studio, the broadcast network, some cable channels, Star India and more.

Source: Spoilertv.com

While the merger, costing $71.3 billion, grew the Walt Disney Company quite largely, shares of Disney did fall in 2018, as they did for most companies in entertainment due to an end-of-year correction in the stock market. According to The Hollywood Reporter, the company’s shares were nearly 21 percent higher in Disney’s fiscal year, which ended on September 29, 2018.

The Hollywood Reporter reports that in The Walt Disney Company’s fiscal year, it earned $12.6 billion (up 40 percent) on revenue that rose 8 percent to $59.4 billion.

CREDIT: BRIAN TO/REX/SHUTTERSTOCK

In addition to news of Iger’s wages, the company also disclosed that CFO Christine McCarthy earned $11.8 million in 2018, General Counsel Alan Braverman made $10.4 million, Chief Strategy Officer Kevin Mayer was paid $11.6 million and Chief Human Resources Officer Jayne Parker made $6.8 million.

After Disney shared the news of its top executive’s wages Friday, the company announced that it has nominated Derica Rice, the Executive Vice President of CVS Health and President of CVS Caremark, to stand election as a director at Disney’s annual meeting of shareholders on March 7. “As a well-respected leader in a dynamic, consumer-facing industry, Mr. Rice will bring a wealth of expertise and experience to our board,” Iger said.

Looking back at the history of Iger’s annual incomes, the CEO has seen some ups and downs. According to The Hollywood Reporter, in 2017, Iger made a reported $36.3 million and in 2016, he made $43.9 million.

What are your thoughts on Iger’s massive wage increase? Let us know in the comments below!

10 Comments

  1. Pam

    Real Reason for our Annual pass increase? Maybe?

  2. Pam

    I love Disney but seriously!? Share the wealth because I’d be willing to bet all the little people that make the company did not get these that percentage if any raise.

  3. Michele

    Love Disney but I struggle to be able to go once every 4-5 years & then see this!!! It’s such a disgrace!!!

  4. Richard

    It’s called greed!! Eisner was never about that, and cared about his employees. Bob doesn’t at all.

  5. Barbara DeVita

    Obscene ! And the company begrudgingly finally gave cast members living in cars a raise.

  6. Lisa

    This is just horrible. Ticket prices are increasing 2x a year at this point. Seriously? I think he has enough money. Stop doing this to people who just love the magic. You are making it harder and harder for us to do something nice and enjoyable for our families and for what? So you can 525 bucks a MINUTE?!

  7. Neil

    The only person that should ever get that annual salary is Walt himself.

  8. Matt Brewster

    Iger should be ashamed of himself for accepting this insane raise! Nobody can EARN such an outrageous sum! You would think that the Board would realize, after the Eisner fiasco, that it’s the army of employees that toil daily who make a company successful- not the CEO, who is really just a figurehead.

  9. Barbara DeVita

    Hate to say it but Disney is going to price themselves right out of the market if these rate hikes keep going . It’s harder and harder to visit the parks and resorts (which now charge guests to park). GREED !!!!!

  10. Patti

    Walt Disney did everything he could so that the average person could come and enjoy the magic he created. But the average American family cannot afford a vacation at Disney World. And a lot of those who do go, pay for it for several years. I think Walt would turn over in his grave to see the greed that has become synonymous with his last name.

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