Disney CEO Bob Iger saw an 11.5% bump in his pay to $45.8 million in 2025, compared to $41.1 million in 2024, according to the company’s latest proxy statement.
The 2025 package includes a $1 million base salary, $21 million in stock awards, $14 million in option awards, $7.25 million in non-equity incentive compensation and $2.59 million in “other” compensation, including $568,670 in personal air travel and $1.85 million in personal security.
The median Disney employee, which is classified as those who work a full-time hourly role in the company’s theme parks and have been with the company over eight years, received $56,932 in total annual compensation. As a result, the CEO pay ratio was 805 to 1.
Disney also reiterated that succession planning remains a “top priority” for the board and that the next CEO would be named in early 2026. The search is being led by board chairman James Gorman and directors Mary Barra, Jeremy Darroch and Calvin McDonald.
“While moving with urgency as Mr. Iger’s contract will end in 2026, the Board is committed to finding the right leader and achieving a successful long-term outcome for the Company and our shareholders,” the proxy filing states. “The Succession Planning Committee is focused on positioning the new CEO for long-term success at the Company by, among other things, surrounding the new CEO with a team of senior executives who can work together to lead the Company into the future.”
Disney has identified four internal candidates to succeed Iger, including Disney Entertainment co-chairs Dana Walden and Alan Bergman, ESPN chairman Jimmy Pitaro and Disney Experiences chairman Josh D’Amaro. The filing notes that each candidate is going through a “rigorous preparation process” that includes mentorship from Iger, external coaching and engagement with all of the board’s directors.
The succession planning committee met five times in fiscal 2025 and will meet regularly until the succession process is completed. It reports to the full board at every scheduled meeting and reserves time to meet without Iger present as appropriate. It also discusses succession with Iger present at least once a year.
As part of the discussions, the compensation committee continued to review and consider shareholder feedback to determine a new package when CEO succession takes place and design an executive compensation program aimed at “driving the creation of long-term shareholder value.”
“The Board and management team value ongoing dialogue with our shareholders to understand their priorities and perspectives,” Gorman said in a letter to shareholders. “We continued our robust shareholder engagement during calendar year 2025, discussing a broad range of topics including management succession, Board composition and oversight and executive compensation. We intend to continue to engage with shareholders through formal outreach efforts in the year ahead.”
Disney’s 2026 annual meeting is slated for March 18 at 10 a.m. PT. Shareholders of record — as of the close of business on Jan. 20 — will be entitled to vote during the meeting.
