The Wall Street Journal-20080112-The Buzz- Disney Boosts Iger-s Pay By 7- to --36-27-7 Million
Return to: The_Wall_Street_Journal-20080112
The Buzz: Disney Boosts Iger's Pay By 7% to $27.7 Million
Walt Disney Co. Chief Executive Bob Iger received a $2 million salary and $13.7 million bonus for fiscal 2007, according to the company's proxy statement, which indicated that the Disney's chief's overall compensation increased by 7% over 2006.
According to the documents, Mr. Iger's total compensation for 2007 was valued at $27.7 million for his second year as the company's chief executive. That is up from a total value of $25.9 million in fiscal 2006.
Mr. Iger's $2 million salary remained the same as in 2006. Mr. Iger's $13.7 million bonus was a slight decrease from the $15 million bonus he received in 2006.
Also in the 2007 pay package are stock awards totaling $7.9 million; options awards valued at $2.2 million; and roughly $739,800 to cover personal air travel, security and a car benefit, according to the proxy filed with the Securities and Exchange Commission.
In 2006, Mr. Iger received long-term incentive pay of $4.3 million, stock options valued at $2.9 million and $666,000 to cover additional costs.
For the year ended Sept. 29, 2007, Disney reported net income of $4.7 billion on $35.5 billion in sales, a 38% increase in profit over the prior year. Disney's shares rose 11% during fiscal 2007. The company saw gains from the sale of its E! Entertainment unit and Us Weekly magazine.
In the proxy, Disney's board said, "Mr. Iger continued his leadership and execution against a strategic plan that yielded outstanding economic results for the year, including record net income, record segment operating income and record earnings per share."
Chief Financial Officer Tom Staggs received a salary of just over $1.1 million, a $4.45 million cash bonus and almost $2.2 million in stock awards. General Counsel and Secretary Alan Braverman took in $1 million in salary and a $3.45 million bonus. He received just over $2 million in stock awards.
