Josh D’Amaro just got the hottest promotion in the media business: He’ll be Disney’s new CEO.
So, how much does the new gig pay?
D’Amaro’s offer letter from Disney includes a base salary of $2.5 million. He’s also able to get an annual performance-based bonus, which could earn him another $6.25 million a year (250%) — “dependent upon the achievement of performance objectives.”
Disney is also offering D’Amaro a one-time $9,705,000 “long-term incentive award.”
D’Amaro, who has been overseeing Disney’s parks as experiences chairman, has a start date of March 18, when longtime CEO Bob Iger will step down.
In addition to D’Amaro’s base salary offer, he’s entitled to a relocation benefit — since he’ll need to move from Orlando back to California — and D’Amaro will also get an incentive package that Disney extends to executive officers.
“For each fiscal year during Mr. D’Amaro’s term as Chief Executive Officer, he will be granted a long-term incentive award having a target value of $26,250,000,” Disney reported in an SEC document on February 3.
That amount is also “subject to adjustment” based on D’Amaro’s performance and outside “economic, financial or market conditions” that impact Disney.
How much is Disney’s new president and chief creative officer making?
D’Amaro isn’t the only executive receiving a promotion and pay bump.
Dana Walden, co-chairman of Disney Entertainment, is getting promoted to president and chief creative officer of Disney. She was widely considered to be the other top CEO candidate.
Walden was offered a base salary of $3.75 million and, like D’Amaro, is eligible for a performance-based bonus that could total $7.5 million (200%). She’ll receive a long-term incentive award of $15.75 million annually, and a one-time $5.26 million payout.
Her employment agreement has her starting March 18 and ending in March 2030, “unless earlier terminated in accordance with its terms.”
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