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Walt Disney’s new CEO, Josh D’Amaro, has been set up with a lucrative pay package for his first year, with a total grant-date value of roughly $45 million and a mandate to lead one of the most exciting and well-known companies in the world. But he’ll also get something that could prove to be the most valuable factor in the succession game: Bob Iger’s planned exit.
According to Disney’s announcement, two-time CEO Iger will step down from the board’s powerful executive committee after the annual shareholder meeting next month on March 18, and he’ll depart completely at the end of the year. After the chief-executive baton is passed to D’Amaro next month, Iger’s employment will transition into an advisory role. In the interim, the four-decade veteran leader will report “exclusively” to the board, where he will remain as a member and stand for reelection before investors at the shareholder meeting in March.
That’s a big change from the last time Iger left the corner office. In comparison, when Disney appointed former CEO Bob Chapek in February 2020, Iger
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