The Walt Disney Co. said pay for its top executives dropped in 2020 as incentive plan compensation dropped to zero in a year when its theme parks closed, its films couldn’t play in theaters and thousands of employees lost their jobs.
Bob Iger, who gave up the CEO title in February and remains executive chairman, received total compensation of $21.03 million in 2020, compared to $47.52 million in 2019. Iger’s salary fell to $1.569 million from $3 million. Last year he got $21.75 million in non-equity incentive plan compensation.
In its SEC filing, the company said that while executives performed admirably amid the challenges presented by the COVID-19 pandemic, “management and the Compensation Committee believe that in light of circumstances this year, that no bonus should be made” to its named executive officers.
Bob Capek, who followed Iger as CEO, got total compensation of $14.163 million, including a salary of $1.81 million.
CFO Christine McCarthy’s total compensation dropped to $10.997 million from $14.974 million in 2019.
Zenia Mucha, senior executive VP and chief communications officer, received $4.946 million, down from $7.562 million.
Chief Human Resources Officer and senior executive VP M. Jayne Parker’s compensation was 7.292 million, down from $9.021 million.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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