Disney's 'Closer' Eiger Salary 42.5 Billion Won... Doubled Despite Last Year's Box Office Failure
Disney's CEO Bob Iger was revealed to have received a total compensation of 42.5 billion KRW in the last fiscal year.
On the 16th (local time), CNN and The Wall Street Journal (WSJ) reported, citing Disney's annual shareholder meeting disclosure information, that CEO Iger received a total of 31.6 million USD (approximately 42.5 billion KRW) for the 2023 fiscal year (October 2022 to September 2023).
CEO Iger's total compensation includes a base salary of 865,385 USD (about 1.16 billion KRW), stock compensation totaling 16.1 million USD (about 21.65 billion KRW), and stock options worth 10 million USD (about 13.45 billion KRW). Performance-based compensation of 2.1 million USD (about 2.8 billion KRW) and other compensation of 2.48 million USD (about 3.3 billion KRW) are also included.
In the previous fiscal year, CEO Iger received a total of 15 million USD (about 20.2 billion KRW), meaning his compensation has doubled.
CEO Iger led Disney for about 15 years starting in 2005 and stepped down in February 2020. During his tenure, he increased market share fivefold and created the content empire Disney by acquiring Pixar, Marvel, Lucasfilm, 21st Century Fox, and others. He then served as chairman and board chairman until 2021, and returned in November 2022 due to the poor performance of his successor, CEO Bob Chapek.
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However, even after the 'relief pitcher' CEO Iger's return, Disney is struggling. CNN reported that Disney experienced movie box office failures, a decline in TV ratings, and difficulties with the streaming service Disney+ last year. In November last year, Disney announced an additional cost reduction of 2 billion USD (about 2.7 trillion KRW) on top of the previously announced 5.5 billion USD (about 7.4 trillion KRW) cost-cutting measures.
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