Disney has revealed the pay packages of its newly appointed top executives, CEO Josh D’Amaro and president and chief creative officer Dana Walden.
As Bob Iger’s successor, Mr. D’Amaro will earn an annual base salary of $2.5 million. He is eligible for a performance-based bonus targeted at 250% of his annual base salary. In addition, Mr. D’Amaro will receive a long-term equity incentive of $26.2 million each fiscal year in which he serves as CEO. He will also receive a one-time long-term incentive award with a target amount of $9.7 million in connection with his promotion to CEO.
Mr. Walden has an employment contract that expires in March 2030 and will earn him an annual base salary of $3.75 million. She is eligible for a performance-based bonus with a target of 200% of her annual base salary. Mr. Walden will receive long-term stock compensation of $15.75 million each year during his tenure as President and CCO. She will receive a one-time long-term incentive award valued at $5.26 million for her new role.
Including these one-time bonuses, D’Amaro’s initial annual package is set at about $38 million, while Walden’s will be about $24 million.
On Tuesday, Walt Disney’s board of directors announced that Mr. D’Amaro, head of the company’s theme parks and consumer products division, would take the job, ending a two-year search to replace Mr. Iger. Disney announced that another potential candidate, Walden, who currently serves as co-chairman of Disney Entertainment, will be promoted to the new role of president and chief creative officer, reporting directly to D’Amaro.
Their new positions will become effective at Disney’s annual meeting on March 18th. Mr. Iger will transition to a role as a senior advisor and member of the Disney Board of Directors until his retirement in December of this year.
