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Credit: Inside the MagicLast year wasn’t a great year for the Walt Disney Company, and it seems as though it wasn’t a great year for CEO Bob Iger or his paycheck either.
2023 saw blow after blow for the House of Mouse. As prices rose across the theme parks, so did complaints about price changes, declining experiences, and confusion about the future of the parks. Iger laid off over 7, 000 employees early last year, a decision that was met with confusion and outrage. Disney+, the company’s streaming platform, admitted to losing millions of subscribers while failing to make the platform profitable. On top of that, Disney has been battling with Florida Governor Ron DeSantis for over a year now as a result of refusing to support his Parental Rights in Education Act (aka the “Don’t Say Gay” Bill).
The Hollywood writers’ and actors’ strikes not only paused production on dozens of Disney projects, but also brought out Iger’s bad side with the alleged reveal of some disparaging comments about their demands. Most of Marvel’s releases last year were massive disappointments for the studio and 2023 was the first time in almost a decade that Disney wasn’t the top-performing studio, losing the number one spot to its competitor, Universal Pictures.
In short, it was a rough year. When Bob Iger was reinstated as CEO back in 2021 after taking over from Bob Chapek (who had replaced him in 2020), many Disney fans thought it meant Disney would “get back to normal.” Instead, fans have called for Iger to resign and opinions are split on the whole “woke Disney” debate. During the strikes last year, it was also revealed that Iger had received a multi-million dollar bonus when he came back to the company, news that shocked and angered thousands of fans.
However, in a recent report from Variety, it was revealed that Bob Iger also received a pay cut last year–dropping his massive salary down from $45.9 million in 2021 to a measly $31.6 million in 2023. These numbers are pulled from the proxy statement filed by the Walt Disney Company earlier this week, although it’s unclear what exactly caused the $14 million pay cut. After initially stating that he would only return as an interim CEO until the company found someone suitable to replace Bob Chapek, it was confirmed last year that he would maintain control over the Walt Disney Company until 2026.
It remains to be seen if there will be any big announcements or changes coming for 2024. The company’s annual shareholder meeting is coming up in just a few weeks, which often has some interesting hints and teases, so be on the look out for updates from Inside the Magic.
What do you think about Bob Iger’s pay cut and performance as the returned CEO of Disney? Let us know in the comments below!