A CEO is ultimately responsible for the success or failure of a company. That success is measured in profit.
If his pay is not based off profit, what should it be based off of?
Long term damage to the parks will hit the next CEO .... if Disney don't invest in the parks, let them rot, eventually people will move on. For the immediate future it's okay as people are still coming, but it won't be long before the queues stop.
This is how business works when you have a CEO who is being too clever with the accounts sheet. He knows if he invests 200 million in an attraction, the payback on that attraction will be a decade down the line. But if he invests in 200 million in a movie franchise, within 2 years he will have his money back and profit. That's his love - the movies, not the parks. And to be honest, anyone arguing that he is doing a good job cos disney shareholders are making good profits are utterly missing the point. Look at the state of the parks - this is the man who has taken 5 years to do a simple Fantasy land expansion. A man who has invested in no major attraction.
Iger's salary is based on profit. If he spends 200 million on a new attraction it eats into the profit. But this is bad for the parks in the long term as he has spent next to nothing on doing anything with the parks. The man is an utter disgrace and the sooner he goes the better.
How can anyone support a CEO who has built not one major attraction at any park !?