Disney CEO Iger Makes 746 Times Company Workers

Every public company has to disclose it, and it is easy to find in the Walt Disney Co. (NYSE: DIS) proxy: “The median Disney employee works in a full-time hourly role in parks and has been with the Company for over seven years.” That number was $55,111. CEO Bob Iger made $41,122,670 last year. That puts the ratio of his pay to median worker pay at 746 times.

Iger was Disney’s CEO from 2005 to 2020. After the board said his replacement, Bob Chapek, had stumbled, Iger returned in November 2022. Since then, he has made a number of changes. The jury is still out on whether they will work.

Disney’s stock price is up about 5% over the past two years. Despite a seeming improvement in earnings, there are worries about a drop in attendance to Disney’s huge theme parks, modest success of its studio business, and the fact that it is in several legacy media operations.

So far, Disney’s recovery is not a recovery at all. In the most recent quarter, revenue only rose 5% year over year to $27.4 billion. The company is run more efficiently, as per-share earnings rose 35% to $1.40.

The primary concern about Disney’s recent earnings was at its “Experiences” segment. This is primarily the parks. The top line only rose 3% to $9.4 billion. Operating income was flat at $3.1 billion.

Iger says he will leave the chief executive role when his current contract expires in 2026. Disney will name a successor at the start of that year. It is a remarkably long time to find a successor. And Iger could always stay.

The financial results for this year had better improve, or Iger’s restructuring will fall apart and he will have been overpaid.

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