Disney paid Bob Iger a $10 MILLION deal to advise Bob Chapek

The Walt Disney Company was paying Bob Iger $10 million in consulting fees after he retired as CEO in 2021 and was replaced by Bob Chapek. 

Iger, 71, made a shocking return to the role as the head of the one of the biggest movie studios in the world last Sunday after it was reported Disney’s board received multiple complaints about Chapek, 61. 

Disney said that as a result of his return to the top job, his consultancy role is on pause but will resume when he leaves again. 

A new regulatory filing from 2021 showed Iger was the regular recipient of installments of $500,000, starting in 2021.  

Disney also footed the bill for Iger’s security, which came to nearly $750,000. In the filing, Iger was to advise ‘on such matters as his successor as chief executive officer may request from time to time.’

The consulting contract was to run for five years. The company would in return ‘have access to Mr Iger’s unique skills, knowledge and experience with regard to the media and entertainment…

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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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