The Walt Disney Co (NYSE:DIS) stock jumped Thursday, on word of a mighty pay hike for its CEO. Bob Chapek saw his compensation rise to $32.5 million, according to a statement filed with the U.S. Securities and Exchange Commission Wednesday.
In FY 2021, Chapek, the man who oversees "the happiest place on Earth," saw his pay swell to more-than-double from the $14.2 million he earned in the preceding year.
The Disney CEO was granted stock awards worth a total of $10.2 million and options valued at $3.75 million, as per the filing. A year earlier, his stock awards totaled $6.13 million and options amounted to $3.37 million.
Meanwhile, Chapek announced the creation of an International Content Group that will function under the direction of Rebecca Campbell as chairman, international content and operations.
The company said it has promoted Joe Earley, previously the executive vice president, marketing & operations for Disney+, as the president of Hulu.
Earley will report to Michael Paull, who has been promoted to the newly-created role of president, Disney Streaming with accountability for Disney+, Hulu, ESPN+, and Star+.
On the creation of the International Content Group and appointment of Cambell, Chapek said, "I'm excited that she will be leading our new International Content group, bringing her expertise and talent to oversee the growing pipeline of original local and regional content for our streaming services while continuing to lead our international operations."
Campbell will oversee Disney’s teams in the Asia Pacific, Europe, the Middle East, and Africa, India, and Latin America.
DIS shares gained $1.63, or 1.1%, to 151.65.
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