Walt Disney CEO Bob Iger got a huge pay raise in 2018.
The chairman and chief executive of the California-based studio earned $65.6 million in 2018, about an 81 percent raise from 2017, when he took home $36.3 million, according to documents that Disney filed with the U.S. Securities and Exchange Commission.
|DIS||THE WALT DISNEY CO.||150.35||+4.16||+2.85%|
Iger’s compensation bump came in the same year that Disney bought a large part of 21st Century Fox for $71 billion. It acquired Fox’s film and TV studios, majority ownership in video-streaming service Hulu, a stake in U.K pay-TV company Sky and cable networks FX and National Geographic.
His package last year included a base salary of about $2.8 million -- compared to $2.5 million in 2017 -- and stock awards worth more than $35 million, an increase of about $27 million from the previous year.
Under the current guidelines, Iger can only earn his full stock-based bonus if Disney outperforms 65 percent of the companies on the S&P 500 Index. If Disney hits the 75th percentile benchmark, Iger is projected to eventually receive a stock bonus worth roughly $135 million.
According to Variety, the main reason for pay bump (and share increase) was Iger’s decision to extend his tenure as CEO through 2021, in order to lead Disney’s acquisition of the Fox assets.
Disney also revealed that it pays general counsel and secretary Alan Braverman $10 million;, CFO Christine McCarthy $12 million;, chief human resources officer M. Jayne Parker $7 million; and COO Zenia Mucha $5 million.21st Century Fox is the parent company of FOX Business and Fox News.