Home Economy Executive received $10.3 million from Walt Disney in just three months

Executive received $10.3 million from Walt Disney in just three months

0
Executive received $10.3 million from Walt Disney in just three months

Even by the standards of exorbitant fees, which are considered commonplace in the world of the entertainment industry, what he received from Walt Disney her PR manager seems really outrageous. it’s about him Geoff Morrell whose term was short. The latter joined the ranks of the film and studio giant on January 24, 2022, exactly one year ago. He left in late spring amid a major public relations crisis for Disney, which ended in employee protests and clashes between then-CEO Bob Chapek and Florida Gov. Ron DeSandes – the state is home to the company’s headquarters and theme parks. However, the American newspaper The Wall Street Journal has just discovered in the financial reports of Disney to the competent authorities of the US capital market information about the remuneration of Morel for a very short period of his stay at the company.

Jeff Morrell took over on January 24, 2022 and left Walt Disney in early spring.

Specifically, as Disney’s head of public relations for just three months, from January to April last year, Morel was making about $150,000 a day. This figure included his salary and bonuses, a payment of $537,438 to move his family from London to Los Angeles, and an additional $500,000 for “special living arrangements” as he had to relocate his family after leaving. On top of all this, American giant Disney was forced to pay the remainder of Jeff Morrell’s contract by paying an additional $4 million in the fiscal year ending October 1, along with the bonus he would have received for 2022. In total, the former top manager left Disney with $10.3 million and after only a quarter of a year. In fact, he’s already landed his next job as president of the strategy and communications division of Teneo, a consulting firm for business group leaders.

Of course, a reasonable question arises: why did he have to leave so quickly? Jeff Morell’s job at Disney was difficult from the start because then-CEO Bob Chapek rather awkwardly got involved in a debate over a Florida law that bans the teaching of gender identity and sexual orientation until 3rd grade (it’s the so-called “Don’t Say Gay”) . Disney, which is also the state’s largest private sector employer, tried to stay out of the bill. But the workers reacted violently. So Capek beat him, and the Republican politicians went berserk. A public relations crisis ensued which resulted in the departure of Jeff Morrell while Czapek was also removed, receiving a $20 million severance package.

Author: newsroom

Source: Kathimerini

LEAVE A REPLY

Please enter your comment!
Please enter your name here