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Tuesday, Jun 6, 2023

Disney Drops Iger’s Compensation by $7.6 Million

Robert Iger, the chief executive of Walt Disney Co., took home nearly $36.3 million last year, or $7.6 million less than he earned the previous year. The Burbank entertainment company also lowered total compensation for its other top executives, according to a Securities and Exhchange filing on Jan. 12. General Counsel Alan Braverman was paid nearly $8.5 million, or 24 percent less than the $11.1 million in 2016. And Chief Financial Officer Christine McCarthy earned nearly $9 million, a 12 percent drop from the previous year. For Iger, the 17 percent decline in compensation stemmed from a $5 million decrease from a non-equity incentive plan and a drop to zero in deferred and pension compensation. In the filing, the compensation committee noted Iger’s “outstanding leadership” and listed the acquisition of BAMTech sports video service, opening of Shanghai Disney Resort and the release of six films that each generated more than $600 million in box office as the Iger’s major accomplishments during the year. Disney’s filing also proposed 10 names for election to the board of directors in 2018, with two prominent names absent. Sheryl Sandberg, chief operating officer at Facebook Inc., and Jack Dorsey, chief executive of Twitter, will not be up for re-election to the Disney board this year. Shares of Disney (DIS) closed Monday up $1.48 or 1.3 percent to $112.47 on the New York Stock Exchange.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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