The annual compensation package for Walt Disney Co. Chief Executive Robert Iger dropped 15 percent in the last fiscal year, the company said in a regulatory filing this week.
Iger's total compensation totaled $34.3 million for the year ended Sept. 28, compared with $37.1 million in fiscal 2012, the Burbank entertainment giant said in its preliminary proxy statement. His base salary remained the same at $2.5 million, but his performance bonus declined and his stock options shrank.
“Iger’s cash bonus declined versus his fiscal 2012 bonus as the company’s outperformance relative to financial measures established by the compensation committee did not match the magnitude of outperformance delivered in fiscal 2012,” the company said.
Separately, Disney announced that its board had nominated Jack Dorsey, chairman of Twitter Inc. and chief executive of Square Inc., as a candidate for independent director. He will stand for election with other company directors at the company’s annual meeting on March 18.
Iger said Dorsey’s experience in technology and commerce made him the right fit for a company trying to expand in media platforms.
“The perspective he brings to Disney and its board is extremely valuable, given our strategic priorities, which include utilizing the latest technologies and platforms to reach more people,” he said in a statement.
Disney shares on Thursday closed up 77 cents, or 1 percent, to $74.62, on the New York Stock Exchange.