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  1. #1

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    Iger earns reduced salary for 2013

    Disney CEO Bob Iger earned $34.3 million in fiscal 2013, a 15% drop from his 2012 compensation.
    Disney released details of Igerís compensation Monday as part of the proxy filing for its 2014 annual meeting, set for March 18 in Portland, Ore.
    The drop in Igerís paycheck comes even as Disney stock is at all-time highs. But in fact, the Mouse had a better financial performance in key metrics in fiscal 2012, when the company acquired Lucasfilm and ďThe AvengersĒ tore up at the worldwide B.O.
    Igerís package for fiscal 2013 included $13.57 million in bonuses, plus more than $17 million in stock and option awards, on top of his $2.5 million base salary.
    His 2013 haul is close to the $33.4 million he earned in fiscal 2011. On the heels of a banner 2012, Iger netted $40.2 million.
    Even a 15% decline, Igerís pay package is sure to draw criticism from corporate watchdog groups. Disneyís proxy outlines in detail the performance-based rationale for the salary. Notably, Disney asserts that shareholder returns have climbed 202% since Iger took the helm in 2005. Heís under contract to remain the head Mouse through June 2016.
    Disney shares have been on a tear this year, gaining 45% during the past 12 months. Shares closed Monday at $73.28.
    Among other details, the proxy discloses that Disney CFO James Rasulo earned $10.7 million in fiscal 2013, down from $12.1 million in fiscal 2012. General counsel Alan Braverman took in $6.9 million (down from $8.3 million in í12) while Kevin Mayer, exec veep of business development and corporate strategy, was up slightly at $4.29 million, compared to $4.20 million last year.
    Among the items that will come up for shareholder vote at the annual meeting, Disney recommends a no vote on a proposal to make it easier for shareholders to nominate independent directors; and a no vote on a proposal to limit accelerated executive pay.
    Also Monday, Disney said its board has elected Twitter chairman Jack Dorsey as an independent member of its board of directors. The 37-year-old tech entrepreneur will fill the seat vacated by Judith Estrin, who will not stand for reelection at the meeting after hitting the term limit of 15 years on the board.

    Disney Chief Bob Iger Earns $34.3 Million in Fiscal 2013 | Variety

    Could this be that the mymagic+ is really behind schedule and not earning Disney the profit they want? Will this affect future projects for the parks knowing that Iger didn't reach the goals he wanted with the parks? What are your thought on this?

  2. #2

    • MaliBOOMer
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    Re: Iger earns reduced salary for 2013

    Portland eh...
    Favorite Ride: Tower of Terror

  3. #3

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    Re: Iger earns reduced salary for 2013

    How will he be able to get by with only 34 million this year? I hope he knows how to budget.

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    Re: Iger earns reduced salary for 2013

    This is so much more interesting to me than the careers of pro athletes!

    As the chairman of Disney's board, Iger (like Eisner before him) gets to help hire Disney's CEO--hey, that's Iger too!

    The short term goal of Iger earning about 30 million a year for as long as possible is currently the ultimate goal of the Disney corporation.

    One billion was spent on MyMagic+ so Iger's two named potential successors (Staggs and Rasulo) would be most closely associated with the equivalent of 4 or 5 John Carter-sized box office bombs, so best to extend Iger through 2016, since he's the best man at this time. Bwah, ha, ha, ha!!!!!

    Some workers on Disney's four cruise ships work 77 hours a week or (and?!) go 4 months in a row without one day off!

    Eisner was a leader in increasing the compensation of American CEOs relative to the lowest paid employees. He and Frank Wells about doubled theme park admission in just two years and stuck Disney's classics on video, and partly with these "brilliant" moves revenue soared. Eisner was also at the top when Roy Disney, Jr. and Jeffrey Katzenberg helped bring about Disney's animation renaissance, and--over about 23 years--(especially during his first decade with Wells) had too many accomplishments at Disney to list here. Iger buys stuff. Wow.

  5. #5

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    Re: Iger earns reduced salary for 2013

    No human being is worth that much when people earn literally a couple dozen dollars a day under their regimes. They should be ashamed - no, I'm not kidding. Not a bit.

  6. #6

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    Re: Iger earns reduced salary for 2013

    As a shareholder, a consumer, and a free market advocate, I see no issues with his comp package.

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    Re: Iger earns reduced salary for 2013

    I'll never understand the obsession some have with executives making a high salary, who cares? At the end of the day it makes little difference to a company the size of Disney. My life is in no way changed by a CEO making millions, his salary is a drop in the bucket for a billion dollar company.

  8. #8

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    Re: Iger earns reduced salary for 2013

    Quote Originally Posted by jsmith11618 View Post
    I'll never understand the obsession some have with executives making a high salary, who cares? At the end of the day it makes little difference to a company the size of Disney. My life is in no way changed by a CEO making millions, his salary is a drop in the bucket for a billion dollar company.
    It used to be a sign of competent corporate governance - a CEO doesn't have THAT much control over what's underneath him in most corporations (and honestly, how much of what we blame Iger for is STILL operating under Eisnerian inertia?). The level of compensation also seriously deforms what the rest of the board receives and in the end results in the "Harvard School of Business Revolving Door" - executives that are only on board for a handful of years before they are moved or move on to the next even more luxurious golden parachute. It also lowers the accountability - what does Iger care if he screws up royally? he's already made more money than he or the next four generations of his family can ever reasonably use. He doesn't have any major incentive to keep the *company* healthy, only himself and his image. Pair this with a wide variety of high level managers that know they've got a three year expiration date and you have a low accountability/high reward scenario that has no relation to business quality.
    Credibility is to be sought for. Credulity is not. Sadly the latter is our normal human state.

  9. #9

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    Re: Iger earns reduced salary for 2013

    Well I could care less about what he makes. The interesting fact to me is the big drop. % wise that's a lot if you ignore the overall number. If any of us took that big of a drop it would usually mean we aren't performing. 2012 was definitely a great year for Disney overall but what about 2013?

  10. #10

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    Re: Iger earns reduced salary for 2013

    Quote Originally Posted by biggsworth View Post
    Well I could care less about what he makes. The interesting fact to me is the big drop. % wise that's a lot if you ignore the overall number. If any of us took that big of a drop it would usually mean we aren't performing. 2012 was definitely a great year for Disney overall but what about 2013?
    See how a story is written can influence readers?

    What is really the tale is... 2012 was a blowout year and so in turn was Iger's comp. 2012 was a peak - not the norm.

    His comp didn't really drop... it was more that in 2012 his comp grew out of the norm.. and now that anomaly has passed.

    When your pay is tied to metrics... anytime the metrics peak, so will your comp.

    It's sad reporting really.. Disney even says in the report "Iger's bonus was reduced by $3 million because Disney's "strong" results did not outperform his targets "by the same extraordinary amount as in fiscal 2012," - yet articles lead with headlines like 'Disney cuts CEO pay' - so pathetic and attention grabbing.
    Last edited by flynnibus; 12-25-2013 at 11:32 AM.
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  11. #11

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    Re: Iger earns reduced salary for 2013

    I don't normally care what someone makes - but it bothers me that he makes that much when Disney couldn't even "afford" a holiday party for their employees.

  12. #12

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    Re: Iger earns reduced salary for 2013

    Quote Originally Posted by Malina View Post
    I don't normally care what someone makes - but it bothers me that he makes that much when Disney couldn't even "afford" a holiday party for their employees.
    Exactly. What a great way to reward your employees.


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    Re: Iger earns reduced salary for 2013

    I am a very vocal critic of what I consider obscene executive compensation, but the real issue is exactly as described above; I have far less of a problem with high executive pay provided the basic employees are paid well.

    This is certainly not the case with TDC, therefore my opinion is that executive pay is indeed grossly excessive.

    When your salary is derived from the backs of your employees, you need to take care of those backs.

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    Re: Iger earns reduced salary for 2013

    Quote Originally Posted by Malina View Post
    I don't normally care what someone makes - but it bothers me that he makes that much when Disney couldn't even "afford" a holiday party for their employees.
    This

    I know many people will go on about how...he makes Disney so much money...but in the end the little people do a lot for the company too and little things like parties and small bonuses make you feel like your part of a company...not just a number

    People want castmembers to be happier....a good way to get people motivated all year are parties and some extra cash. It's a small price for Disney to pay to keep employess at the to of there game which leads to consumers being happy..and when I'm happy I spend more


    Also Disney...I'll take a million a year and save you money by telling you no one wants My magic plus the way it's trying to be done

  15. #15

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    Re: Iger earns reduced salary for 2013

    Quote Originally Posted by whoever View Post
    As a shareholder, a consumer, and a free market advocate, I see no issues with his comp package.
    I too am those things and have the same cares except for compensation.

    I would and will vote against this crap.
    "Among the items that will come up for shareholder vote at the annual meeting, Disney recommends a no vote on a proposal to make it easier for shareholders to nominate independent directors; and a no vote on a proposal to limit accelerated executive pay."

    That will help insure my rights as a shareholder and ability to make money off the free market. However I don't have a lot of shares to vote, unlike Iger and his cronies.


    The reason the pay isn't as big is because the shares went up a lot more in 2012 than 2013.



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