Walt Disney Co said it had eliminated performance-based bonuses last year for top executives, including Executive Chairman Bob Iger, as the media company looks to soften the impact of the Covid-19 fallout.
The pandemic dealt a major blow to the company’s theme parks and movie studio business, while people sheltered at home during the lockdown pumped up sign-ups on its Disney+ streaming service.
Iger received a total compensation of $21 million for fiscal year 2020, significantly lower than the $47.5 million he had received in the prior year, Disney disclosed in a regulatory filing.
The compensation package of Chief Executive Officer Bob Chapek, who took on the role last February, totaled to $14.2 million, according to Reuters.
