Bob Iger’s Disney Pay More Than Halved in 2020 Amid ‘Substantial Toll’ of Pandemic
Bob Iger’s Disney pay dropped by more than half in 2020, when he and current CEO Bob Chapek both went without bonuses amid the coronavirus pandemic. Iger also forewent his salary for a time, Chapek took a 50% pay reduction.
Don’t feel too badly for Iger — he still made more than $20 million. (About $21 million, to be more exact.) In 2019, however, Iger hauled in $47.5 million.
Chapek tallied $14.2 million in 2020. We do not have 2019 data for the new head honcho.
*Also Read:* Bob Iger to Forgo Disney Salary During Coronavirus Shutdown, CEO Bob Chapek Takes 50% Pay Cut
According to Disney’s annual shareholder meeting notice and statement filed to the SEC, Iger ended up making just under $1.6 million in salary for fiscal 2020, down from the $3 million earned in 2019. His reported stock awards declined from more than $10 million in 2019 to less than $7 million in 2020. Iger’s options awards figure was fairly flat year to year at approximately $9.6 million.
The huge change came under the heading non-equity incentive plan compensation, which essentially means monetary bonus. In 2019, Iger hauled in $21.75 million dollars there. It was a goose egg in 2020. There really weren’t any other material changes for Iger, but he made another $1.8 million under the pension/deferred compensation heading, and $1.2 million in catch-all category “All Other Compensation.”
Chapek drew $1.8 million in salary, had $6.1 million in stock awards, $3.4 million in options and the same big, fat zero in the non-equity bonus column. He tacked on $2.7 million via a change in pension/deferred compensation and about $140,000 under what is essentially an “other” column.
“The COVID-19 pandemic took a substantial toll on our businesses, many of which were closed during significant portions of the fiscal year,” Disney said in the SEC filing. “Some of our operations are still not resumed. Those of our businesses that have resumed are operating under significant restrictions and with additional cost burdens as a result of COVID-19. The disruption to our businesses caused by the COVID-19 pandemic had a corresponding impact on the Company’s financial performance.”
That reduction in performance included a decrease in revenue of 6% to $65.39 billion and a loss in diluted earnings per share of $1.57 compared to income of $6.26 per share in fiscal 2019. Net income for Disney dropped to a loss of $2.83 billion compared to income of $10.43 billion a year ago.