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The Walt Disney Company (NYSE:DIS) announced Wednesday that it has amended the employment agreement of Kristina K. Schake, the company’s Senior Executive Vice President and Chief Communications Officer. According to a statement based on a regulatory filing, the amendment extends Ms. Schake’s contract through June 30, 2027.
Effective Wednesday, Ms. Schake’s annual base salary was increased to $875,000. The company stated that future salary increases remain at its discretion. Other terms of her compensation, including her target annual bonus opportunity and target long-term equity incentive award value, remain unchanged as a percentage of her base salary.
The amendment was formalized on Wednesday and was disclosed in a filing with the Securities and Exchange Commission. A copy of the amendment was included as an exhibit to the filing.
Walt Disney’s common stock is listed on the New York Stock Exchange under the symbol DIS.
In other recent news, Walt Disney has seen mixed trends in its theme park attendance, as reported by KeyBanc Capital Markets. September showed flat year-over-year attendance but an 11% decline month-over-month, with Disneyland attendance increasing by 4% year-over-year yet declining 10% month-over-month. In a corporate update, Disney extended the contract of Sonia L. Coleman, Senior Executive Vice President and Chief People Officer, through June 30, 2028, while updating her compensation terms, including a base salary increase to $1,000,000 starting in 2025. Goldman Sachs reiterated its Buy rating on Disney stock, anticipating an earnings per share beat, forecasting EPS of $1.19 against a consensus of $1.04. The bank attributes this to strong performance in Direct-to-Consumer EBIT and domestic parks, with projected domestic attendance growth of 2% year-over-year. Additionally, Disney plans to increase Disney Plus subscription prices starting October 21, with the ad-supported plan rising by $2 to $11.99 per month. Needham also reiterated its Buy rating, suggesting strategic changes for ABC, including simulcasts on Hulu to maintain revenue.
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