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Bob Chapek to Reportedly Receive $23 Million in Exit Payments from Disney

Now-former Disney CEO Bob Chapek was ousted by the Walt Disney Company yesterday, November 20, 2022, with his predecessor Bob Iger returning to the top executive position effective immediately.

Of course, a position like Disney CEO would come with quite the severance package, and the total amount Chapek can still earn from his former role at the company is truly staggering.

Disney CEO Bob Chapek During D23

Credit: Disney

RELATED: Bob Iger to Return as CEO of the Walt Disney Company

Prior to last night’s surprising announcement that Chapek had effectively been fired and Iger would be returning to the position, Chapek’s contract had recently been extended another three years to 2025. While we cannot be certain of the details that led to the contract extension then sudden ousting, several Disney fans have speculated that the extension was a final attempt at reassuring fans and shareholders of the future while logistics were figured out behind the scenes.

With a contract extension swiftly followed by a departure would likely come some kind of exit package, and reports indicate that as a former CEO of the Walt Disney Company, the dollar amount could be substantial.

Bob Iger, Bob Chapek in Star Wars Galaxy's Edge

Credit: Disney

RELATED: Reinstated Disney CEO Bob Iger Sends Heartfelt Message to Cast Members

According to Bloomberg, the total exit payments Chapek could receive would amount to just over $23 million, and possibly more depending on the future recovery of Disney stocks given the at least $3.5 million worth currently in Chapek’s name.

Other elements of Chapek’s exit payment reportedly include his estimated $6.5 million salary payout by 2025 (based on his recent contract extension) and a pension that could be worth up to $16.9 million. Based on the most recent estimates from 2021, Chapek’s non-qualified deferred compensation plan would give him at least another $8.5 million from his time with the company as well.

Cinderella Castle

Credit: Disney

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Since the Walt Disney Company has not made official financials regarding Chapek’s exit published, these figures are Bloomberg’s estimates based on previously shared information. The former CEO himself signed a non-disparagement agreement as well, so we would need confirmation from Disney to be sure of the specifics.

Following yesterday’s announcement, returning CEO Bob Iger already sent a heartfelt message to Cast Members, and was welcomed back by his predecessor Michael Eisner who congratulated him on Twitter:

We will continue to monitor the transition within the top leadership of the Walt Disney Company, and will report back here with additional updates as we have them on Disney Tips.

About Brittany DiCologero

Brittany is a New England-based writer focused on the history of the Walt Disney World Resort. She is the author of "Red, White, and Disney: The Myths and Reality of American History at the Walt Disney World Resort," and "Brittany Earns Her Ears."