Reports Surface That Iger Never Really Left Disney’s Payroll

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According to a recent filing, The Walt Disney Company CEO Bob Iger had struck a deal in 2021 for a five-year $10 million consultancy agreement.

disney ceo bob chapek (left) and executive chairman bob iger (right)
Credit: Disney

Reports have surfaced that following Iger’s 2021 retirement, an agreement was made with Disney where quarterly installments of $500,000 would be paid to Disney’s CEO Bob Iger “to have access to Mr. Iger’s unique skills, knowledge, and experience about the media and entertainment business,” reported by the Financial Times.

In addition, the deal also mentioned that Iger would advise “on such matters as his successor as the chief executive officer may request from time to time.”

While an agreement was in place between The Walt Disney Company and Bob Iger, Mr. Chapek rarely sought out his once mentor’s guidance. It had been widely reported for months that they were allegedly not on speaking terms.

bob iger (left) and bob chapek (right) in front of millennium falcon galaxy's edge
Credit: Disney

While Iger was frustrated when he was not contacted to help in response after the passage of Florida’s Parental Rights in Education Act, the Wall Street Journal said Chapek’s point of view was that the relationship was damaged by Iger, who, during the initial passing of the baton had said “he would focus on creative work as executive chairman,” but was instead, “interfering in day-to-day matters that were supposed to be the CEO’s domain.”

In its corporate filings announcing the change, Disney said Iger’s consultancy agreement would be paused. At the same time, he served as chief executive and would resume when he left the company.

This is another interesting development in the Disney executive suite drama under former CEO Bob Chapek’s tenure. It is yet to be determined if we will continue to see further details from the fallout between The Walt Disney Company’s Board of Directors and Bob Chapek.

Are you surprised to learn about Iger’s consulting agreement? 

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