The former Disney executive, who was on the job for just four months, was making $119,505 a day before resigning over the fallout from Florida’s so-called “Don’t Say Gay” law.
Geoff Morrell, 57, who served as the company’s chief corporate affairs officer for 70 days, earned total compensation of $8,365,403 before resigning on April 29, 2022, the Wall Street Journal reports.
Along with the massive salary, Disney also paid him about half a million dollars to move his family from London to Los Angeles, and then paid another half when he quit, according to the company’s security filing Tuesday.
Morrell left the company after Florida Gov. Ron DeSantis pushed the Parent’s Bill of Rights last year, leading to a public relations disaster with employees protesting the company’s initial silence on the issue, which the House of Mouse against the state legislature.
Geoff Morrell (pictured), 57, who served as Disney’s chief corporate affairs officer for 70 days last year, was making $119,505 a day before resigning
During his short tenure, Morrell oversaw a public relations disaster after Florida Gov. Ron DeSantis (above) pushed for the controversial “Don’t Say Gay” law
The company saw hundreds of employees and demonstrators protesting its initial silence, and then another wave of backlash after speaking out against the law
FORMER DISNEY CEO BOB CHAPEK WENT WITH 20 MILLION
When Bob Chapek was ousted as Disney CEO last year, he walked away with a whopping $20 million settlement.
That was in addition to the generous $24 million compensation package he received throughout the year.
Chapek was ousted after a disastrous two-year period in which the company turned off many consumers with its bright new tone.
Under Chapek’s rule, the company’s share price fell.
He also fought with the Florida legislature over the so-called “Don’t Say Gay Bill,” which Gov. Ron DeSantis pushed for.
The company claims it has excelled financially without him, and says Iger — brought back after Bob Chapek’s disastrous and short tenure — is the right man to lead.
Morrell joined Disney in early 2022, having previously worked as a Pentagon spokesman during the Obama administration and at BP.
He was hired with a salary of $489,500, with an additional bonus of $2.75 million as compensation for leaving BP, where the security file says he worked in communications and external relations.
A source at Disney told WSJ that Morrell’s total compensation for 2022, estimated at an additional $5.1 million after accounting for stock and options, is likely to be $2 million less due to the decrease in performance payments will be.
Disney’s filings also show that the company bought the $4.5 million Pasadena home that Morrell bought last year when he moved to California.
Morrell has since relocated to Washington, DC and earlier this month signed with consulting firm Teneo Holdings as president of global strategy and communications.
Upon his departure last April, Morrell wrote in an email to staff: “I’ve realized it’s not the right fit for a number of reasons. I have decided to leave the company to pursue other opportunities.’
Though his tenure at Disney was short, Morrell endured one of the most heated periods in the company’s history as it faced increasing pressure to respond to Florida’s controversial “Don’t Say Gay” law.
Disney faced an angry backlash from employees over its initial silence, and hundreds marched in protest at theme parks in Florida and California.
The company then faced critics for opposing the law – which bans the teaching of subjects related to sexual orientation and gender identity in grades K-3.
Dozens of employees marched through the company’s theme parks and offices in front of Disney’s Burbank, California, headquarters last year as part of a day-long strike
The controversy also embroiled ousted CEO Bob Chapek, who was accused of pushing a wake-up agenda at Disney, and was eventually replaced by returning CEO Bob Iger.
Disney’s most recent filing also revealed that Chapek, who acquired Iger in 2020, is eligible for approximately $20 million in severance pay.
That would be in addition to the $24 million he made last year from his salary, stock options, and bonuses.
While Disney is currently working to clean up its reputation while being challenged by state lawmakers to remove its special tax district status, the House of Mouse faces a challenge from billionaire investor Nelson Peltz.
Billionaire activist Nelson Peltz (right) with his son-in-law Brooklyn Beckham. He made an offer for a Disney board seat last week
Peltz starred for Disney with an SEC filing asking for a board seat and a multi-faceted social media and website campaign to restore his lost “magic.”
Peltz, the 80-year-old father of Brooklyn Beckham’s wife Nicola, filed a petition with the SEC last week for a seat at the Mickey Mouse table.
He pointed out that Disney has consistently underperformed the S&P 500 and said his business acumen could make it a success. Peltz holds a 0.5 percent stake in Disney through his company Trian Partners.
Disney, meanwhile, has filed a 16-page slideshow with the Securities and Exchange Commission explaining why they think he’s the wrong man for the job.
Now it’s up to Disney shareholders to decide whether Peltz gets a seat or not. The vote will take place at the 2023 Annual General Meeting. A date has not been set.