Disney Cuts Iger's Future Pay by Millions Before Annual Meeting
- Board slashes planned pay increases tied to Fox deal closing
- Proxy advisers said investors should nix the compensation plan
Walt Disney Co., facing criticism over excessive pay packages, cut tens of millions of dollars of future potential earnings for Chief Executive Officer Bob Iger.
The move, disclosed in a regulatory filing Monday, comes days before the company’s annual meeting, where investors are set to vote on the entertainment giant’s executive compensation program. Disney didn’t provide a reason for the planned reduction, the second change to Iger’s pay in four months.