"Disney's post-succession strategy is not just about who won the CEO job. It is about converting a potential rival into a highly incentivized partner. In most corporate succession battles, the runner-up leaves. At The Walt Disney Company, the opposite just happened, and it came with a carefully structured price tag. After naming Josh D'Amaro its next CEO, Disney moved quickly to ensure that Dana Walden, the executive many believed could just as easily have won the job, did not become Hollywood's most valuable free agent."
"The result is an aggressive "pay-to-stay" compensation package in which a subordinate's base salary exceeds her boss's, an unusual move in corporate America and a deliberate effort to bind Walden to D'Amaro's success. According to Disney's February 2026 SEC filings, Walden received a one-time $5.26 million stock grant, likely designed to smooth the sting of being passed over. Her new base salary of $3.75 million is roughly 50% higher than D'Amaro's starting base salary of $2.5 million and is weighted toward guaranteed cash."
Josh D'Amaro was named Disney CEO while Dana Walden, a close contender, was retained through an aggressive compensation plan. The package includes a one-time $5.26 million stock grant, a $3.75 million base salary—about 50% higher than D'Amaro's $2.5 million base—and substantial annual target bonuses and stock awards. Walden's recurring annual target compensation (excluding the one-time grant) totals roughly $27 million, compared with about $35 million for D'Amaro. The pay structure emphasizes guaranteed cash for Walden and performance-based equity for D'Amaro. The move is intended as risk management to prevent departures and deter rival bidders.
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