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Disney’s Iger got raise to $27.7 million in ‘07

From Bloomberg News

Walt Disney Co., the second-largest U.S. media company, gave Chief Executive Robert A. Iger an 11% raise to $27.7 million last year after he expanded profit for eight straight quarters.

The salary and other compensation for Iger, 56, was disclosed in a regulatory filing Thursday by Burbank-based Disney. In 2006, Iger received $24.9 million, according to the filing. Disney stock gained 14% for the fiscal year ended Sept. 29.

Fourth-quarter profit rose 12%.

Iger’s “pay didn’t go up as much as we performed as a company,” Disney spokesman Jonathan Friedland said. In fiscal 2007, the company’s income from continuing operations gained 41% to $4.67 billion and earnings per share increased 40% to $2.24.

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Disney shares, however, have dropped 12% in the last 12 months, and fell 35 cents Friday to $30.32.

Iger received $13.7 million in nonequity incentive pay, $7.93 million in stock awards and a salary of $2 million.

The company paid $9.05 million to Chief Financial Officer Thomas Staggs, 47. The total included $4.45 million in nonequity incentive pay and $2.2 million in stock awards.


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