Top Disney executive made $150,000 a day for 3 months before being fired

The executive positions in the entertainment industry are known to be highly paid, but the recent revelation that a Disney executive made more than six figures per day for the three months he worked there has sparked intense controversy.

During his brief employment at Disney, Geoff Morrell, who worked as the company's top corporate affairs officer, earned $8.3 million in salary and incentives. He also gets an extra $4 million as part of a contract buyout.

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Former Disney executive Geoff Morrell will receive over $10 million in compensation

The breakdown of Geoff Morrell's pay package: $8.3 Million in salary and bonuses (Image via Getty Images)

On January 24, 2022, Geoff Morrell was appointed Disney's chief corporate affairs officer. The business announced his resignation in April 2022. Per Disney's filing, Morrell received $8.3 million in salary and bonuses over the course of his three months on the job and five months on the payroll.

The amount includes $537,438 for moving his family out of London so he could accept the position and an extra $500,000 to "allow for his unusual circumstances" of having to move them again after he left.

Furthermore, Disney is buying out the rest of Morrell's contract, which means he will receive an additional $4 million in the current fiscal year that ends October 1 to pay out the rest of his contract, along with the target bonus he would have received for 2022.

This means that the total compensation Morrell will receive is $10.3 million. From his hiring until his departure in April, that's about $148,000 a day if only weekdays are counted or $108,000 a day if he's credited with working a seven-day week.

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Reactions to Morrell's pay package

Controversy and Criticism: Reactions to Morrell's six-figure salary for a three-month tenure (Image via Getty Images)

The news of Morrell's pay package has sparked controversy and raised questions about the fairness of such a high salary for a relatively short work period.

Critics have argued that this is an excessive amount of money for such a short work period, especially considering the financial struggles many have faced due to the ongoing COVID-19 pandemic. Some have also pointed out that this salary is significantly higher than the median household income in the United States.

Others, however, have defended Morrell's salary, arguing that it is in line with industry standards for top executives at major companies. They also pointed out that Morrell has a proven track record of success in the entertainment industry and that his leadership was crucial for Disney during a difficult time.

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Final thoughts

Final thoughts on the Controversy Surrounding Morrell's Executive Compensation: A Deeper Look into Industry Standards and Fairness (Image via Getty Images)

The controversy surrounding Geoff Morrell's pay package has raised important questions about executive compensation in the entertainment industry. While some argue that the salary is excessive for a relatively short work period, others defend it as being in line with industry standards.

Regardless of one's stance on the issue, it's clear that this news has sparked a conversation about the fairness of executive compensation and its implications on the industry.

It is worth noting that Morrell's pay package is not an isolated incident in the entertainment industry. In recent years, there has been growing concern about the disparity between CEO and average worker pay in the United States and many other countries. The average CEO's pay at large publicly traded U.S. companies was 312 times higher than the average worker's pay in 2020.

This has led to calls for more transparency and accountability in executive compensation and for companies to consider the impact of their pay practices on their employees and the broader community. As the conversation about executive compensation continues, it will be necessary for companies to consider what the legal and industry standards are and what is fair and equitable for all stakeholders.