Disney CEO Bob Iger's Annual Pay Falls 17 Percent to $36.3 Million
The longtime boss of the entertainment giant had made $43.9 million in the previous year.
Walt Disney chairman and CEO Bob Iger's compensation amounted to $37.3 million in the latest fiscal year, compared with $43.9 million in the previous year, according to a regulatory filing.
Iger’s pay package for the fiscal year ended Sept. 30 included a $2.5 million base salary along with stock and options awards and more. In all, Iger made 17 percent less in 2017 than he did in 2016.
Iger is shepherding Disney through some exciting times, with the pending $52.4 billion acquisition of most of 21st Century Fox on the docket, and he said last month his plan is to remain chairman and CEO through the end of 2021.
During the most recent fiscal year, Disney stock rose 8 percent.
The company on Friday also disclosed the pay for the four other top executives, and all of them earned less in 2017 than they did in 2016: CFO Christine McCarthy made $8.9 million, down from $10.2 million; general counsel Alan Braverman made $8.4 million, down from $11.1 million; chief strategy officer Kevin Mayer was paid $8.4 million, down from $10.1 million; and chief human resources officer Jayne Parker made $5.1 million, down from $5.6 million.
Disney also announced in the filing on Friday that board members Jack Dorsey, the CEO of Twitter and Square, and Sheryl Sandberg, the COO of Facebook, would not be seeking reelection in February.
“Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly difficult for them to avoid conflicts relating to Board matters, and they are not standing for re-election," a company spokeswoman said in a statement.
Robert Matschullat, the former CFO of The Seagram Co., and Orin Smith, the former CEO of Starbucks Corp., are also both leaving the board. Matschullat has reached the 15-year term limit, while Smith must leave due to the board's retirement age of 74.
Jan. 12, 5:07 p.m. Updated to include information on Disney board directors.
Jan. 14, 10:40 a.m. Updated to correct the reason for Smith's departure.