Walt Disney will pay Bob Iger About $27 million annually for his return as chief executive officer in a new two year deal.

Iger Will receive Base salary: $1 million Bonus equal to According to to The company filed a statement on Monday. In addition, he’ll receive Stock awards with a target of $25 million Each year. 

Disney, the world’s largest entertainment company, announced Sunday that Bob Chapek was retiring as CEO immediately, to be replaced with IgerPrior to his retirement, he was the CEO of the company for 15+ years. to Retirement in December 2021

The amount, which is dependent on the performance of Disney stock, is not as large as some of the company’s pay packages historically. Chapek, who was CEO In February 2020, the average monthly income was $32.5 million In fiscal 2021, total compensation IgerThe executive chairman of the company at the time, he received $45.9 million.

Disney is the one Disney wanted to After being regularly criticized by corporate governance experts, the company has had to reduce the top executive’s salary.

The list of highest-paid U.S. executive is populated by media executives. David Zaslav, CEO Warner Bros. Discovery Inc., $247 million Last year. 

Our new weekly Impact Report newsletter will examine how ESG news and trends are shaping the roles and responsibilities of today’s executives—and how they can best navigate those challenges. Subscribe here.