Saturday, 13 January 2018 | MYT 11:55 AM
Disney CEO Bob Iger's pay fell 17% to US$36m in 2017
LOS ANGELES: Walt Disney Co. Chairman-Chief Executive Officer Bob Iger received $36.3 million in compensation during the fiscal year ended Sept. 30, down 17% from the previous fiscal year.
Disney made the disclosure as part of the company's proxy statement filing Friday. The 66-year-old Iger received a $15.2 million cash bonus tied to results, including segment operating income and return on invested capital.
His base salary remained flat at $2.5 million, as did stock awards at about $9 million. Non-equity incentive compensation fell to $15.2 million from $20 million.
CFO Christine McCarthy's total compensation fell to $8.95 million from $10.2 million, according to the statement, and Chief Strategy Officer Kevin Mayer's total pay declined to $8.4 million from $10.1 million. General Counsel Alan Braverman's total compensation slid to $8.45 million from $11.12 million. Chief Human Resources Officer M. Jayne Parker's pay also fell to $5.09 million from $5.6 million.
Iger will get paid more during the current fiscal year. Disney announced a $52.4 billion stock deal in December to buy the entertainment assets of 21st Century Fox. As part of that deal, Iger signed a new contract boosting his salary and giving him an additional $100 million in stock awards. He has postponed his planned retirement four times.
Iger extended his contract last month as chairman-CEO for another two years, in order to oversee the integration of the Fox assets into Disney -- assuming the deal passes muster with federal regulators.
Iger had previously said that he was committed to stepping down at the end of his most recent extension, through mid-2019. But spearheading the biggest acquisition in Disney's nearly 100-year history required him to stay. The extension came at the request of the Disney board as well as that of 21st Century Fox.
The proxy statement also officially notified Disney shareholders of the annual meeting, set for March 8 in Houston. - Reuters