• Monday, Mar. 4, 2019
Disney cuts $13.5M in future potential earnings for CEO Iger
In this Monday, March 13, 2017, file photo, The Walt Disney Company CEO Bob Iger attends a special screening of Disney's "Beauty and the Beast" at Alice Tully Hall in New York. (Photo by Evan Agostini/Invision/AP, File)
  • NEW YORK (AP)
  • --

The Walt Disney Co. is cutting $13.5 million of CEO Bob Iger's annual future potential earnings ahead of the closing of Disney's $71.3 billion acquisition of Fox's entertainment assets.

The move comes ahead of Disney's annual shareholder meeting Thursday. A year ago, shareholders voted against Iger's pay package at the shareholder meeting 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 $500,000 that Iger was set to receive when the Fox deal closes and maintains his current base of $3 million. It cuts the annual bonus he was set to receive by $8 million to $12 million. It also cut his annual target long-term incentive award by $5 million to $20 million.


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