Disney’s 2nd executive to receive higher base pay than CEO as part of $27M package
The longtime executive named the Walt Disney Company’s No. 2 will reportedly earn 50% more base pay than his boss — a move intended to soften the blow of being stripped of the top job.
Dana Walden, who served as chairman of Disney Entertainment before the company’s succession announcement last week, will reportedly earn $3.75 million in base salary — more than that of Josh D’Amaro, his chosen CEO.
D’Amaro, who led Disney’s parks and themes division under CEO Bob Iger, will receive a base salary of $2.5 million, although his total compensation package — driven largely by performance-based incentives — will exceed Walden’s, according to Fortune.
Walden’s compensation package is structured to prioritize guaranteed pay and retention.
In addition to his base salary of $3.75 million, he received a one-time stock award valued at $5.26 million and is eligible for an annual bonus of up to 200% of his base salary.
He is also scheduled to receive $15.75 million annually in long-term stock awards, bringing his annual recurring compensation to $27 million, excluding the one-time grant.
D’Amaro’s salary, in contrast, is heavily weighted toward performance-based benefits and long-term equity.
In addition to his base salary of $2.5 million, the incoming CEO is eligible for an annual bonus of up to 250% of his base salary and will receive approximately $26.2 million annually in long-term stock gains.
His annual target compensation is $35 million, excluding a separate one-time bonus of approximately $9.7 million associated with his promotion.
Although Walden’s salary exceeds that of his employer, the structure ultimately maintains a traditional hierarchy, with the CEO keeping a larger salary — and a bigger long-term raise.
The Post sought comment from Disney.
D’Amaro, a Disney veteran of nearly three decades, was widely regarded by the board as a stable operator with deep institutional knowledge and a proven track record of running the company’s most profitable businesses.
As head of Disney’s parks, experiences and consumer products division, he oversees a division that has generated the bulk of Disney’s earnings in recent years, looking at post-pandemic demand and capital expansion.
Walden was widely considered a formidable insider candidate, prized for his deep connections throughout Hollywood and his management of Disney’s television and broadcasting businesses.
But one report cited sources as saying Walden’s close, decades-long relationship with former Vice President Kamala Harris may have swayed him in the final decision.
Sources told Variety that Disney dignitaries expressed concern that promoting him to CEO could put Disney in the crosshairs of the Trump administration.
A Disney source dismissed the claim, calling it “absolutely false” and “uninformed speculation from people who were not involved in the decision.”
