Iger's compensation slips 28% to $29m

[crazy4wdw]

From the BBC:

Disney chief Iger's compensation slips 28% to $29m

The pay of Walt Disney's chief Robert Iger fell 28% to $29m (£18.1m; 20.2m euros) in 2009, a company filing to regulators has showed.

Disney's earnings have suffered this year because of the economic slowdown.

However the board praised Mr Iger for "his rapid response to exceptionally challenging economic conditions".

Separately, Apple head Steve Jobs received his customary $1 annual salary in 2009. Mr Jobs is Disney's largest single shareholder.

According to documents released by the Securities and Exchange Commission, Mr Iger's pay divides up as follows:

$2.04m in salary
$6.34m in stock awards
Options valued at $8.31m
Bonus of $9.25m
Other compensation of $3.08m

The company said it "seeks to offer compensation that responds to the competitive market or executive talent in such a way that the company can attract executives of the highest calibre".

Disney's earnings fell 25% to $3.3bn in 2009 as the recession meant fewer people went to its amusement parks and companies spent less money advertising on its TV networks.

Disney also said it had nominated Faceboook's chief financial officer, Sheryl Sandberg, for election as company director.

Mr Jobs' stake in Disney - of 7.4% - is currently worth about $4.5bn.

His 5.5 million shares of Apple's stock is worth about $1.1bn as Apple's share price rocketed this year.

 

[Golf4food]

Oh my... how ever will he survive? Will his family be able to eat?

Maybe we should take up a collection on the boards or setup a trust fund...

 

[ShellyLynn3630]

Oh my... how ever will he survive? Will his family be able to eat?

Maybe we should take up a collection on the boards or setup a trust fund...

I'll get the plate ready.........

 

[monkeyknuckler]

Don't joke, man. $29,000,000 ain't what it used to be.

 

[lugnut33]

No wonder they couldn't afford Lights Of Winter this year.

 

[eliza61]

Man, this recession really is a killer.

 

[Princess_Nikki]

I just saw Bob Iger on a money talk show recently. He is quite intelligent and seemed to have a good outlook on this recession. You know the economy is rough when a company like Disney has to take huge cut-backs. $29M is a quite reasonable salary! Shoot, I would run Disney for $1M

 

[mitros]

Well, at least Iger is not taking what that other guy, Ei$ner, took when he was in charge....................although I would suspect that if Iger could manage it, he would.