Bob Iger received compensation valued at $34.3 million for the year, down from $37.1 million last year.His compensation fell because the Walt Disney Co. didn't exceed internal goals by as much this year as it did in 2012, according to a company regulatory filing made Monday.
Disney CEO’s Pay Package Shrank 7% In 2013
Disney CEO Bob Iger’s pay package shrank 7 percent for 2013, despite the entertainment company’s strong financial performance during the year.
Iger received compensation valued at $34.3 million for the year, down from $37.1 million last year.
His compensation fell because the Walt Disney Co. (DIS) didn’t exceed internal goals by as much this year as it did in 2012, according to a company regulatory filing made Monday. Earnings at the Burbank, Calif. company rose 8 percent to $6.1 billion in fiscal 2013 after surging by 18 percent in the previous year.
The slowdown contributed to a decision to trim Iger’s cash bonus by $3 million from the previous year. The value of his stock awards and options also declined.
Iger’s salary stayed steady at $2.5 million. He is due to make the same salary until his current contract expires in June 2016.
Even though Disney’s earnings didn’t grow as much as they did in the previous year, shareholders still fared well. Disney’s stock climbed by 25 percent during its fiscal year ending Sept. 28, while the Standard & Poor’s 500 index increased by 17 percent during the same stretch.
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The AP’s calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.
Comments (4)
Michelle Underwood says:
December 24, 2013 at 7:33 am
Poor Baby. Maybe we should take up a collection for him?
none none says:
December 24, 2013 at 11:22 am
Based on ABC’s performance if should go down more than 7%.
Wagner Pereira says:
December 26, 2013 at 4:03 am
Perhaps you did not read the ENTIRE first line. “despite the entertainment company’s strong financial performance during the year.” Earnings rose 8% this year and share price was up 25%. Clearly you have no idea how to judge his performance if you think “it should go down more than 7%” based on those metrics.
Joe Jaime says:
December 25, 2013 at 9:25 am
ONLY $34M what a hit!