By Richard Verrier, Los Angeles Times
4:11 PM PST, January 18, 2013
Robert Iger, chief executive of Walt Disney Co., got a big pay raise last year.
Iger, 61, who also serves as chairman of the Burbank-based entertainment company, received total compensation valued at $40.2 million in the last fiscal year, a 20% increase over the prior year, according to a regulatory filing.
The pay package included a bonus of $16.5 million, and $9.53 million in stock awards, in addition to $2.5 million in salary and nearly $4 million in other compensation, a filing with the Securities and Exchange Commission shows.
Iger's compensation, which is mainly tied to the financial performance of Disney, reflected a strong year for the owner of Pixar Animation Studios, Marvel Studios and ESPN.
The entertainment giant's revenue rose 3% to a record $42.3 billion in the year ended Sept. 29. Profits climbed 18% to $5.68 billion in the year.
"The compensation committee strongly believes in pay for performance and that our ongoing success is in large part due to the contributions of the senior management team under the leadership of our CEO, Robert A. Iger," the company's filing said.Iger also assumed the added role of chairman last year. He will remain CEO until until March 2015. Iger's overall compensation, including pension benefits, in 2011 was $33.4 million.
Disney's share price closed Friday at $52.34, down 7 cents. It has gained 5.1% so far this year and rose 76% in the last fiscal year.
Copyright © 2013, Los Angeles Times