Disney’s new CEO Josh D’Amaro stands to make $45 million but he’ll also get something priceless—a ‘clean break’ with Bob Iger

Walt Disney’s new CEO Josh D’Amaro has been set up with a lucrative pay package for his first year, with a total grant-date value of roughly $45 million and a mandate to lead one of the most exciting and well known companies in the world. But he’ll also get something that could prove to be the most valuable factor in the succession game: Bob Iger’s planned exit.

According to Disney’s announcement, two-time CEO Iger will step down from the board’s powerful executive committee after the...