Bob Chapek fired as Walt Disney CEO to receive $20 million severance pay
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Fired from Walt Disney in November 2022, CEO Bob Chapek will receive a $20.4 million severance pay. In addition, his salary, along with other payments and compensation for the fiscal year 2022 ended September 30, was $24 million. These data are given in financial reporting Walt Disney filed with the US Securities and Exchange Commission (SEC).
In the financial statements, the company explains the reasons for the unexpected dismissal of Mr. Capek from the post of CEO and the equally unexpected return to this position Bob Iger, who retired from it in 2020. In June 2022, the Walt Disney Board of Directors extended the contract with Mr. Chapek, but from June to November there were “significant changes and changes in the macroeconomic situation.”
As a result, the board of directors “decided that as Disney enters a period of increasingly challenging industry transformation, it would be best if Mr. Iger leads the company while looking for a long-term successor” as CEO. The accounts also detail what Mr. Čapek’s total remuneration consists of for his last full year at Walt Disney. Base salary was $2.5 million, stock options and shares worth $14.5 million, bonus $6.75 million, private air travel compensation $282.8 thousand and other types of compensation $53.8 thousand.
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