Investors, employees and fans of arguably the most iconic entertainment brand in the world may look back on 2018 as a pivotal year for the Walt Disney Company, and it's reflected in chairman and CEO Bob Iger's salary, which was up 80 per cent in the company's latest fiscal year to $65.6 million.
Iger had earned $36.3 million in 2017 and $43.9 million the year before that.
Iger spent much of 2018 in a bidding war with Comcast over most of the entertainment assets of 21st Century Fox. When the dust settled, Disney agreed to pay $71.3 billion for the Fox film and TV studio, the broadcast network, some cable channels, Star India and more.
While shares of Disney fell in 2018, as did shares of most companies in entertainment and other industries due to an end-of-year correction in the stock market — its shares were nearly 21 per cent higher in Disney's fiscal year, which ended on Sept 29.
In its fiscal year, Disney earned $12.6 billion (up 40 per cent) on revenue that rose 8 per cent to $59.4 billion.
Disney also disclosed that CFO Christine McCarthy earned $11.8 million in 2018, general counsel Alan Braverman made $10.4 million, chief strategy officer Kevin Mayer was paid $11.6 million and chief human resources officer Jayne Parker made $6.8 million.
Iger's salary was $2.875 million in the fiscal year, up from $2.5 million a year earlier. He made $35.5 million in stock awards, nearly four times what he was awarded the year before. His options were unchanged at $8.3 million, according to Hollywood Reporter.
Disney disclosed compensation for its top executives in an SEC filing on Friday, and, shortly thereafter, also said it has nominated Derica Rice, the executive vice president of CVS Health and president of CVS Caremark, to stand election as a director at Disney's annual meeting of shareholders on March 7.
"As a well-respected leader in a dynamic, consumer-facing industry, Mr Rice will bring a wealth of expertise and experience to our board," Iger said.
