74.9 F
San Fernando
Saturday, Feb 4, 2023

Big Pay Raise for Disney CEO

Walt Disney Co. Chief Executive Robert Iger received a 35.5 percent increase in his total compensation last year, according to a filing with the U.S. Securities and Exchange Commission. The Burbank entertainment and media company paid Iger $46.5 million in salary, stock options and incentive plan compensation. He earned $34.3 million in 2013, according to the filing made on Friday. The biggest boost for Iger came from the $22.8 million incentive plan compensation, a 68 percent increase from the $13.6 million in 2013. The Disney board approved the increase as “Mr. Iger’s leadership in articulating and implementing the company’s long-term strategy was a substantial driver of the extraordinary results in fiscal 2014 and continued to position the company for future growth,” according to the filing. Among the highlights from fiscal 2014 were the strong box office performance of the animated hit “Frozen” and the live-action “Guardians of the Galaxy”; development and expansion of the Shanghai Disney Resort, scheduled to open this year; acquisition of short-form video creator Maker Studios for $500 million; and achieving profitability with the company’s Interactive video and online game division. In October, Iger agreed to a two-year contract extension with Disney to stay as chief executive through June 2018. His salary remains at $2.5 million a year with performance-based retention bonuses for meeting certain performance goals. Shares did not trade Monday because of the Martin Luther King Jr. holiday.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

Featured Articles

Related Articles