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Walt Disney Co. CEO Bob Iger collects 35% bump in compensation

Walt Disney Co. Chief Executive Robert A. Iger commanded a 35% jump in salary and bonuses in 2010, rewarding what the board of directors' compensation committee called his "exceptional performance" in the face of a slow-recovering U.S. economy.

Iger's salary and bonus reached nearly $16.3 million, up from $12 million a year earlier. His total compensation, including equity awards, reached $28 million, according to the company's proxy filed Friday with the Securities and Exchange Commission.

The board's compensation committee said Iger managed to deliver a strong financial performance for the company. It noted that three of Disney's cable channels -- Disney Channel, ESPN and ABC Family -- delivered record ratings, and two feature films, "Alice in Wonderland," starring Johnny Depp, and Pixar Animation's "Toy Story 3," reaped $1 billion in global box-office receipts.

The labor union representing hourly workers at the Disneyland Resort hotels has taken issue with Iger's pay and bonuses and has attempted to give Disney shareholders a greater voice in executive compensation.

Disney's head of strategic planning, Kevin A. Mayer, collected a 42.5% hike in his salary and bonus to $2.3 million. Including equity awards, his compensation reached $4.1 million, which the compensation committee said recognizes his role in completing Disney's $4-billion acquisition of Marvel Entertainment in late 2009 and identifying new acquisitions, such as the social gaming company Playdom, for which Disney paid $563.2 million in July.  

The entertainment giant reported net income of nearly $4 billion for fiscal 2010, a gain of 20% over the previous year. Revenue reached $38 billion, up 5% from fiscal 2009. The company's stock flirted with a 10-year high of $40 this month after a trio of favorable analyst reports noted that theme park spending was on the rebound and the revenue picture was improving at Disney's cable networks.

Disney's stock closed Friday at $38.85, down 61 cents.

-- Dawn C. Chmielewski 

 

 
Comments () | Archives (9)

meanwhile, most US workers got no or raise or a paycut or worse yet, lost their jobs due to no fault of their own.

As the studios send more jobs overseas and unions keep wrangling over pay, I need a job and I need it NOW!!

Wow. What a jerk. 200 people are fired from disney earlier in the week and he has the balls to take a $4.3 million dollar raise? What did he do fire them so he could take their pay?

Even though I was given the highest performance review possible, my raise from Disney was 2% (the lowest I've ever gotten in my many years with the company). I was told it was due to the company's poor performance (and don't forget, the never-ending layoffs that have been going on for years-- slowly and surely, every department is hit-- and then they start over again).

Bob has done very well for the company and deserves his reward, but what a slap in the face to the rest of us who work just as hard and get measly raises.

Wasn't Some one on TV trying to sell us the Regan 'trickle" down effect. Some thing about a rising tide lifts all boats. LOL. I wonder how many of the park employees got a 35% raise.

So now you can give your people big bonus for making more money.But you can axe your soaps because they are to expensive.The shows that have bought fans to ABC for 41 yrs, those commercials that pay for your bonus's from those shows.Do you even know what your viewers want.The people who look forward for those shows everyday. NO! I am so disappointed with ABC For making such a bad decision.I will not be watching ABC when you end AMC & OLTL Only GH! Don't need cooking shows. So finished with your excecutive decisions to ruin ABC.

Congratulation that is good. The person ever make to laugh whole world with his creation that how it is possible that he be in loss. Good luck
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This make me physically ill to know this man was a part of laying off thousands of people so he can increase his income even more. How does he sleep at night putting that many people out of work while you rolling in that much cash. Sad that Walt's intentions for Disney was never what it has turned into. What a shame and I can promise his bonus's and raises will be much much lower this year as ABC has lost millions of fans.


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