Walt Disney Co.'s top executives — including Chief Executive Bob Chapek and Executive Chairman Bob Iger — went without cash bonuses for the company’s most recent fiscal year because of the financial havoc caused by the COVID-19 pandemic, according to a regulatory filing released Tuesday.
The result was significant reductions in overall compensation for Disney’s highest level of executive leadership, whose pay is weighted toward performance-based rewards rather than base salaries.
Chapek, in his first year as CEO of the Burbank entertainment giant, still had a total compensation package worth $14.2 million, including his salary and stock awards, according to Disney’s annual proxy report. He became CEO in February after running the company’s parks, products and experiences division.
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