Disney CEO Robert Iger saw his fiscal 2025 pay rise just about 12% to $45.8 million from $41.1 million the year earlier, according to the company’s annual proxy statement filed with the SEC.
In a letter to shareholders, chairman James Gorman reiterated the board’s commitment to naming a successor to the CEO in early 2026 – so soon.
It set the annual meeting of shareholders virtually for March 16 at 10 am PT.
“Management succession planning remains a top priority for the Board, reflecting its importance to business continuity and long-term shareholder value. Oversight of the process is led by our dedicated Succession Planning Committee, and all directors have actively participated in a rigorous and ongoing evaluation of potential successor candidates, including direct engagement, performance assessment and consideration of leadership capabilities aligned with the Company’s long-term strategy. The appointment of the next CEO will be determined by the full Board, and we currently expect to announce the appointment of the Company’s next CEO in early 2026,” Gorman wrote in the proxy.
Iger also weighed in. “As I reflect on all that we’ve accomplished, both in fiscal 2025 and since I returned to the company in 2022, I am inspired and energized by the opportunities before us. Through our strategic vision and unmatched collection of businesses, we continue to tell great stories that are reaching more people, in more places, in more ways than ever before. I am grateful to our leadership team for their dedication and vision during this transformative period, and I’m grateful to you, our shareholders, for your continued support of this remarkable company,” he wrote.
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Proxy statements detail pay packages for the top five executives at public companies. Iger’s comp was comprised of a $1 million base salary; stock awards worth $21 million; option awards valued at $14 million; non-equity incentive plan compensation (like a cash bonus) of $7.25 million; and “other” comp including security and personal air travel of $2.59 million.
Disney’s fiscal year ends in September.
Disney’s CEO succession (alongside the fate of Warner Bros. Discovery) is about the most hotly anticipated news of the year. Josh D’Amaro, chairman of Disney Experiences, and Dana Walden, co-chair of Disney Entertainment, are believed to be front runners with speculation growing about a possible co-CEO situation that has been working well at other companies like Netflix.