Senior Disney executives are reportedly bashing plans to reduce their salaries between 20 and 30 percent amid the Chinese coronavirus pandemic, with no firm date as to when the cuts would end.
Sources who spoke with The Hollywood Reporter said that the cuts affect executives at the VP, Senior VP, and Executive VP level.
The executives lament that the salary cuts were decided unilaterally, have no specified end date, and they were given just two days to sign the amended contract.
Last year, for example, Iger’s base salary was $3 million, although he ended up earning $44.5 million in additional compensation.
In the case of newly elevated CEO Bob Chapek, who has agreed to forego half his salary, his annual target bonus of $7.5 million and an annual long-term incentive grant of $15 million also remain intact.