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Disney CEO Iger made $30.6 million last year

January 17, 2009|Bloomberg News

Walt Disney Co. reported Friday that Chief Executive Robert Iger was awarded total compensation of $30.6 million last year, up 11% from 2007.

Steve Jobs, Disney's biggest shareholder, is up for reelection to the board, the Burbank-based media company said in a regulatory filing. Jobs announced this week he's taking a medical leave from Apple Inc. for the first half of this year.

Iger's salary was unchanged at $2 million. Net income at Disney, the second-largest U.S. media company, fell 5.5% last year as the recession cut profit at theme parks and the film studio produced fewer movies. Revenue gained 6.6% to $37.8 billion.

Since taking over as CEO in October 2005, Iger, 57, has expanded popular cable-television shows such as "Hannah Montana" and "High School Musical" to theaters and the company's theme parks to increase Disney's overall sales.

Iger's compensation included $7.77 million in stock awards and a $13.9-million bonus. His $5.98 million in stock options include previous grants. Changes in the value of Iger's pension added $157,000 to total pay, and other compensation came to $773,000. He signed a new five-year contract last February.

By comparison, News Corp. Chief Executive Rupert Murdoch, whose company also owns film studios and television outlets, was awarded $27.5 million in total compensation in fiscal 2008, according to an Aug. 19 filing. His pay included $8.1 million in salary and a $17.5-million bonus.

Disney shares rose 10 cents Friday to $21.46.

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