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Disney CEO’s pay has doubled

A new report suggests Disney’s CEO has seen his pay double

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Disney CEO Bob Chapek in Boston.

Disney CEO Bob Chapek during an address at the Boston College Chief Executives Club, Monday, Nov. 15, 2021, in Boston.

Charles Krupa, Associated Press

Disney CEO Bob Chapek’s compensation more than doubled for 2021, according to a new report from Variety.

The news: Variety reports that Chapek’s compensation package for fiscal 2021 hit $32.5 million, which is double the $14.2 million he made in 2020.

  • Former Disney CEO Bob Iger saw double, too. His compensation package reportedly hit $45.9 million — much higher than the $21 million he took home in 2020, according to Fox Business.

Yes, but: “In fiscal 2020, Disney executives including Chapek and Iger, did not receive bonuses amid the economic impact of the COVID-19 pandemic,” Fox Business reports.

Quote: “Mr. Chapek, as Chief Executive Officer, delivered strong performance given the unprecedented challenges resulting from the COVID-19 pandemic and meaningful shareholder value, driven by exceptional execution of the Company’s key strategic initiatives,” Disney said in a filing, according to Variety.

The bigger picture: Chapek took over for Disney during the coronavirus pandemic. Per Deadline, Chapek worked to get Disney through the troubling times, which included “a period of dramatically reduced revenue as COVID-19 forced the closure of parks and resorts as well as movie theaters, with live sports also taking a lengthy and costly break.”