Disney CEO gets deal
(CNN) - Former Disney Chief Executive Officer Bob Chapek, is set to receive a hefty paycheck following his exit.
Chapek abruptly left the company in November after a hectic two-year stint marked by COVID-19 shutdowns.
The Walt Disney Company said the former CEO, who took over in February 2020, is eligible to take home a severance package worth roughly $20 million.
That’s in addition to the $24 million he made last year, and down from the $32 1/2 half million he made in 2021.
The board reportedly determined that Chapek “was no longer the right person to serve in the CEO role."
Although it voted to extend Chapek’s tenure for three years in June 2022.
Disney shares, which were trading at about one-hundred-seventy dollars a share in January 2022, have fallen to about $100 a share.
