Disney's Bob Iger skips bonus payments
CEO received compensation in double digitsNEW YORK -- The value of Walt Disney CEO Bob Iger's overall compensation package for last year saw a double-digit percentage increase, but he decided to forgo some of the bonus payments he was eligible for as a gesture in the current environment.
Many CEOs in the financial services industry, for example, have forgone or lost bonuses after the financial crisis and amid the recession.
Iger received a $2 million salary and a $13.9 million bonus for fiscal year 2008, ended in September, according to the entertainment giant's proxy statement filed with the Securities and Exchange Commission.
His salary remained unchanged, while his bonus was up only slightly as Iger decided to forgo $2.4 million in additional bonus money as a gesture of goodwill.
Including stock awards and other elements, his overall compensation reached $30.6 million though, up nearly 11% compared with 2007.
Meanwhile, Disney CFO Tom Staggs received a salary of nearly $1.9 million and was awarded a $4.1 million bonus as part of his compensation.
In its proxy, Disney also recommended its entire board for reelection at its March 10 annual meeting, including Apple CEO Steve Jobs, who has faced health issues. With a stake of about 7.4%, Jobs is also Disney's largest individual shareholder.