Disney’s mouse is staying in his house. In a surprise move, Disney’s Board of Directors unanimously voted this week to extend CEO Bob Chapek’s contract for an additional three years, paying him $2.5 million per year in base salary and at least $20 million in stock.
Talk about failing up. Disney’s board is rewarding Chapek for destroying shareholder value through his controversial political activism. “Bob is the right leader at the right time for The Walt Disney Company, and the Board has full confidence in him and his leadership team,” said Susan Arnold, chairman of the board. That’s cold comfort for Disney shareholders, including millions of American retirees, who have been victimized by his woke positions which the board chose to ignore.
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