El Segundo-based toy maker Mattel Inc. cut Chief Executive Robert Eckert’s compensation by 45 percent in 2005 after the company reported its worst earnings decline in five years.

Eckert, who has been CEO since 2000, received $3.65 million last year, Mattel said in a shareholder proxy filed with U.S. regulators. His pay in 2004 was $6.62 million.

Eckert, 51, received $1.25 million in salary; options valued at $1.68 million based on an excise price of $18.71; and a $468,750 bonus, down 52 percent from 2004. Other compensation totaling $251,000 included $71,617 relating to personal use of company aircraft.

Eckert’s 2004 pay included $3.02 million in options, a $984,344 bonus and $1.4 million in other compensation.

Mattel’s profit dropped 27 percent in 2005 after sales of Barbie merchandise fell for the second consecutive year as the world’s largest toy maker failed to fend off competition from Van Nuys-based MGA Entertainment Inc., maker of the edgier Bratz doll line. Mattel’s shares dropped 19 percent in 2005, its first annual decline in six years

Shares of Mattel closed down 0.17 percent to $17.20 on Thursday.

The company’s annual stockholder meeting is scheduled for May 11 at The Westin Los Angeles Airport Hotel.