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Friday, Jun 2, 2023

Briefs: Iger’s Pay, Disney Board, DreamWorks Debut

Walt Disney Co. announced Monday its board of directors had selected Jack Dorsey, chairman of Twitter Inc. and chief executive of Square Inc., as a candidate for independent director. He will stand for election alongside other company directors on March 18 at the company’s annual meeting. Robert Iger, chief executive of Disney, said Dorsey’s experience in technology and commerce made him the right fit for a company trying to expand in media platforms. “The perspective he brings to Disney and its board is extremely valuable, given our strategic priorities, which include utilizing the latest technologies and platforms to reach more people,” Iger said in a statement. Shares of Disney closed up 77 cents, or 1 percent Thursday to $74.62, on the New York Stock Exchange. The annual compensation package for Rober Iger, chief executive at Walt Disney Co., shrank 15 percent in 2013, the company disclosed in a filing on Monday. Iger’s base salary remained the same at $2.5 million, but his performance bonus declined and his stock options shrank. His total compensation as head of the Burbank entertainment company amounted to $34.3 million, compared to $37.1 million last year. “Iger’s cash bonus declined versus his fiscal 2012 bonus as the company’s outperformance relative to financial measures established by the compensation committee did not match the magnitude of outperformance delivered in fiscal 2012,” the company said in its preliminary proxy statement. DreamWorks Animation SKG Inc. debuted TV show “Turbo Fast” on Christmas Eve, marking the company’s first show under a partnership with Netflix Inc. Eventually, the Glendale production company will produce 300 hours of animated programs for Netflix. Shares of DreamWorks on Thursday closed down 9 cents or less than 1 percent at $35.47 on the Nasdaq.

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