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Disney's Iger Skips Bonus Payments
Still, his pay package saw a double-digit year-over-year increase
Jan 20, 2009
-By Georg Szalai, THR.com
NEW YORK The value of Walt Disney CEO Bob Iger's overall compensation package for last year saw a double-digit percentage increase, but he decided to forgo some bonus payments as a gesture in the current tough economic environment.
Many CEOs in the financial services industry, for example, have forgone or lost bonuses after the financial crisis and amid the recession.
Iger received a $2 million salary and a $13.9 million bonus for fiscal year 2008, ended in September, according to the entertainment giant's proxy statement filed with the Securities and Exchange Commission.
His salary remained unchanged, while his bonus rose only slightly as Iger decided to forgo $2.4 million in additional money as a gesture of goodwill.
Including stock awards and other elements, his overall compensation reached $30.6 million though, up nearly 11 percent compared with 2007.
Meanwhile, Disney CFO Tom Staggs received a salary of nearly $1.9 million and was awarded a $4.1 million bonus as part of his compensation.
In its proxy, Disney also recommended its entire board for reelection at its March 10 annual meeting. Its board includes Apple CEO Steve Jobs, who has faced health issues. With a stake of about 7.4 percent, Jobs is also Disney's largest individual shareholder.
Disney's Iger Skips Bonus Payments
Still, his pay package saw a double-digit year-over-year increase
Jan 20, 2009
-By Georg Szalai, THR.com
NEW YORK The value of Walt Disney CEO Bob Iger's overall compensation package for last year saw a double-digit percentage increase, but he decided to forgo some bonus payments as a gesture in the current tough economic environment.
Many CEOs in the financial services industry, for example, have forgone or lost bonuses after the financial crisis and amid the recession.
Iger received a $2 million salary and a $13.9 million bonus for fiscal year 2008, ended in September, according to the entertainment giant's proxy statement filed with the Securities and Exchange Commission.
His salary remained unchanged, while his bonus rose only slightly as Iger decided to forgo $2.4 million in additional money as a gesture of goodwill.
Including stock awards and other elements, his overall compensation reached $30.6 million though, up nearly 11 percent compared with 2007.
Meanwhile, Disney CFO Tom Staggs received a salary of nearly $1.9 million and was awarded a $4.1 million bonus as part of his compensation.
In its proxy, Disney also recommended its entire board for reelection at its March 10 annual meeting. Its board includes Apple CEO Steve Jobs, who has faced health issues. With a stake of about 7.4 percent, Jobs is also Disney's largest individual shareholder.
