Walt Disney Co Executive Chairman Bob Iger saw a pay cut of 56% which downed his income to $21 million in 2020, as the company adapted to the pandemic-induced situation by reducing bonuses and other forms of benefits and compensation.
Bob Chapek, having replaced Iger in his previous role of the CEO, earned $14.2 million, one amongst the lowest figures for a Disney CEO in over a decade. Compared to Chapek, Igor in 2006 had made $21.9 million during his first full year in the top position, as per a Bloomberg report.
On sales of $65 billion, Disney lost a total of $2.8 billion in 2020. Executive pay, reportedly, has been hit due to the company not being able to meet some of its performance metrics.
The entertainment giant weathered the COVID-19 storm with some crisis, but also saw its business partially increase by way of a slew of critical decisions that impacted its operations. Alongside closing down theme parks and cruise tours the world over, Disney further delayed its movie releases, like Hollywood to save up on expenses.
Significantly, shares still grew for the organisation by 25% in 2020, despite losing revenue due to lack of live sports on television earlier in the year.
Reportedly, Disney will be making changes to its compensation program in 2021.