Bob Chapek leaves Walt Disney Co.’s top job with exit payments and benefits that could be worth more than $23 million. That’s without including the millions more he could collect in the coming years if the company’s share price recovers.
The amount is based on calculations by Bloomberg News using disclosures from regulatory filings. Disney hasn’t yet publicly disclosed the financial terms of the chief executive officer’s departure, and a representative didn’t respond to a request for comment sent outside normal business hours.
Chapek’s contract entitles him to collect a salary for the full duration of his term, even if he’s ousted prematurely. His term was recently extended to mid-2025, and the paychecks between now and then add up to roughly $6.5 million.
He’s also entitled to the pension he’s accumulated over his decades-long career at Disney. As of October 2021, filings show it stood at $16.9 million. That money is his, regardless of the circumstances of his departure.
He holds a trove of Disney stock options, though most of them are underwater. If he had exercised his in-the-money securities and immediately sold the shares at Friday’s US market close, he would have collected around $3.5 million.
