Home » Business » Disney inked $10M deal with Bob Iger to consult his replacement despite icy relationship: report
Disney inked $10M deal with Bob Iger to consult his replacement despite icy relationship: report
Disney CEO Bob Iger a ‘brilliant man’: Jeff Sica
Circle Squared Alternative Investments founder Jeff Sica reacts to Disney’s surprise CEO move and reveals what sectors the Wall Street ‘big boys’ are buying, on ‘Varney & Co.’
Disney agreed to pay former CEO Bob Iger $10 million per year to advise his replacement before he made a sensational return.
Iger retired after 15 years as the top executive at Disney, with Bob Chapek taking his place in February 2020, just as the COVID-19 pandemic started, but Iger made a shock return to the post following extended periods of loss for the company.
The Financial Times this week reported that Iger was receiving regular installments for consulting until the end of 2026 "on such matters as his successor as chief executive officer may request from time to time."
Chapek did not appear to make use of this asset, and Iger reportedly told friends about his frustration that Chapek had not sought his advice during a turbulent time for the company, such as Disney’s response to Florida’s Parental Rights in Education bill.
KAREEM DANIEL TO LEAVE DISNEY AS BOB IGER STEPS BACK INTO CEO ROLE
"Iger never forgave Chapek for the way Chapek distanced himself and took control of the company," one former executive told the Times. "In some ways, Iger thought he would still be the coach. Chapek was not willing."