Disney CEO Earned $31.1M in 200819 Jan, 2009 By: Erik Gruenwedel
On paper, Walt Disney Co. president and CEO Bob Iger had a good year in 2008.
Iger received $31.1 million in total compensation, which included a $2 million base salary and a performance-related bonus of $13.9 million, according to a regulatory filing and published reports.
The compensation, which marked an 85% increase over 2007, largely included long-term stock options, many of which are priced above Disney’s current share value. Iger declined a $2.4 million bonus, citing current economic conditions.
"He thought it was the appropriate thing to do," Disney spokesman Jonathan Friedland told The Associated Press.
Disney's 2008 net income fell 5.5%, to $4.43 billion, on revenue of $37.8 billion, up 7% from 2007.
Separately, Apple CEO Steve Jobs, who last week announced he would take a medical leave of absence, is up for reelection to Disney’s board of directors.
Bloomberg News last week reported that Jobs, who is the largest individual Disney shareholder, is considering a liver transplant in regards to complications from treatment of pancreatic cancer.
Disney reports first-quarter fiscal 2009 results Feb. 3.