LOS ANGELES (AP) - Walt Disney Co. has awarded CEO Bob Iger a 2010 pay package valued at $28 million, up 30 percent from a year ago. That’s according to an Associated Press analysis of data disclosed to regulators on Friday.
The Burbank, Calif.-based company says it is rewarding the 59-year-old Iger for excellent management in a tough economic environment.
Disney shareholders enjoyed a 24 percent jump in the company’s stock price in its fiscal year ended Oct. 2, compared with a 14 percent return in the broader S&P 500 index. Iger hired new managers for Disney’s money-losing movie studio, sold off Miramax and bought social game maker Playdom with an aim to reverse losses at its interactive unit.
The Associated Press formula is designed to isolate the value that the company’s board placed on the executive’s total compensation package during the last fiscal year.
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