Disney chief operating officer Bob Iger's pay soars eightieth to $65.6 million

Disney chief operating officer Bob Iger's pay soars eightieth to $65.6 million

Walt Disney Co. Chairman and Chief government Bob Iger got a giant pay bump last year.

Iger’s total compensation hit $65.6 million in financial 2018, a rise of eightieth from the previous year, according to a Friday regulatory filing.

The surge was mostly due to a much larger stock bonus the Burbank entertainment giant bestowed on the executive, based on the company’s performance during the fiscal year — which ended Sept. 29 — and a series of major strategic moves to grow its business.

In the filing, Disney’s compensation committee highlighted Iger’s leadership over the company’s unfinished $71.3-billion acquisition of twenty-first Century Fox assets and therefore the development of its key strategy for brand new subscription streaming video services, together with the approaching Disney+, which is able to contend with Netflix.

Iger’s stock awards totaled about $35.4 million in the year, nearly four times the $9 million in stock awards he received a year earlier. Much of that jump was connected to a contract extension. In late 2017, Iger extended his contract to 2021 to administer filmmaker once it finalizes its deal to soak up the Fox assets. Disney additionally faces a crucial moment in late 2019, once it's expected to launch Disney+.

Iger’s base pay in financial 2018 was $2.9 million, up from $2.5 million. His pay package also included $8.3 million in stock options, an $18-million cash bonus and $1.1 million in other compensation.

Even if you put aside the Fox acquisition, which is expected to close within weeks, Disney had a big year. The company released several blockbusters, including “Star Wars: The Last Jedi,” “Black Panther,” “Avengers: Infinity War” and “Incredibles 2,” which each grossed more than $1 billion in worldwide box office sales. Additionally, the corporate reported record operational results from its parks and resorts section.

Iger, 67, is poised for a good larger day once the twenty-first Century Fox deal closes. In December, Disney raised the bar for Iger to receive the more than $100 million in stock units he could get after the acquisition.

Disney and Iger united to alter the terms of his contract to a lot of closely mirror the performance of the combined media company’s share worth. The adjustment came once filmmaker received blowback from shareholders over his compensation in March once a majority of shareholders voted against Disney’s pay set up.

Additionally, movie maker aforementioned weekday that high CVS Health house. executive Derica W. Rice has been nominated to join the company’s board of directors. Rice is CVS’ government vice chairman and as president of its pharmacy advantages management business, CVS Caremark. Rice can represent election to the filmmaker board at the company’s annual capitalist meeting March seven.