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Disney cuts $19m from CEO earnings package

Disney is cutting $US13.5 million ($A19 million from chief executive Bob Iger's annual potential earnings.

Disney is cutting $US13.5 million from its CEO's potential earnings.
Disney is cutting $US13.5 million from chief executive Bob Iger's annual potential earnings. (AAP)

Disney is cutting $US13.5 million ($A19 million) from chief executive Bob Iger's annual potential earnings ahead of the closing of its $US71.3 billion acquisition of Fox's entertainment assets.

The move comes ahead of Disney's annual shareholder meeting on Thursday (US time).

A year ago, shareholders voted against Mr Iger's pay package at the AGM in a non-binding vote that the company said it would take into consideration for future compensation.

The company is cutting an annual base salary increase of $US500,000 that Iger was set to receive when the Fox deal closes and maintains his current base of $US3 million.

It cuts the annual bonus he was set to receive by $US8 million to $US12 million.

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It also cut his annual target long-term incentive award by $US5 million to $US20 million.


1 min read

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Source: AAP


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