DreamWorks Animations' Jeffrey Katzenberg gets pay cut in 2011
DreamWorks Animation Chief Executive Jeffrey Katzenberg took home a relatively modest pay check in 2011 -- at least compared to his peers in the entertainment industry.
In addition to his usual $1 annual salary, Katzenberg, who controls 68% of the voting shares of the Glendale-based company, received a stock award valued at about $4 million. That's down from a total compensation of $6.7 million in 2010 and $23 million in stock options and awards he received in 2009, according to a filing with the Securities and Exchange Commission.
Katzenberg's pay was well below that of David Zaslav, CEO of Discovery Communications Inc., who got a 23% raise in 2011 with total compensation of $52.4 million. Robert Iger, CEO of Walt Disney Co., received nearly $31.4 million in total pay last year, up 13.6 % from 2010, while Viacom Inc.'s Philippe Dauman received $43 million, according to federal filings.
As part of a 2009 employment agreement, Katzenberg's pay is tied to the company's shareholder return. DreamWorks Animation shares declined more than 40% last year. DreamWorks paid co-founder David Geffen $1.1 million for use of a corporate jet and $2 million in consulting fees in 2011, according to the proxy.
-- Richard Verrier
Photo: DreamWorks Animation Chief Executive Jeffrey Katzenberg poses with the character Shrek during a media event before the premiere of "Shrek the Third" in June 2007 in Paris. Credit: Jacques Brinon / Associated Press