Big news for the Walt Disney Company! Josh D’Amaro has been announced as the new Chief Executive Officer, and Dana Walden will become the President and Chief Creative Officer, as current CEO Bob Iger steps down and retires.
©Disney
Disney has revealed the pay packages for the new executives, and Variety is breaking down what each one is getting.
D’Amaro will have an annual base salary of $2.5 million. He will then be eligible for an annual, performance-based bonus with a target equal to 250% of that annual base salary. For each fiscal year that D’Amaro serves as CEO, he will also be given a long-term stock incentive of $26.2 million. D’Amaro will also receive a one-time long-term incentive award with a target value of $9.7 million due to this promotion.
Kermit, Miss Piggy, and Josh D’Amaro at the 2023 Destination D23 fan convention.
Walden is entering into an employment agreement set to expire in March 2030 with an annual base salary of $3.75 million. She will also be eligible for an annual, performance-based bonus with a target equal to 200% of that annual base salary. Walden will receive a long-term stock award of $15.75 million for each full fiscal year during her president and CCO tenure. She will also receive a one-time, long-term incentive award valued at $5.26 million for her promotion.
Dana Walden ©Disney
With the bonus, D’Amaro’s initial annual package will be around $38 million, and Walden’s will be about $24 million.
Josh D’Amaro at Destination D23, 2023 ©Disney
Both D’Amaro and Walden will start their positions on March 18th at The Walt Disney Company’s annual meeting. Iger will transition to serving as a senior advisor to the Disney board until his official retirement in December 2026.
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