Disney's Eisner gets 13.6% pay boost

brisem

brisem

Well-Known Member
Original Poster
Disney's Eisner gets 13.6% pay boost

In filing, media company says embattled CEO received $8.3M in 2004; Iger gets $12M
January 7, 2005: 6:00 AM EST



LOS ANGELES (Reuters) - Walt Disney Co. Chief Executive Michael Eisner received $8.3 million in total compensation in 2004, a rise of about $1 million from 2003, the company said in a regulatory filing.

Disney (Research) last year faced a shareholder revolt and fought off a hostile takeover bid from Comcast Corp. (Research) Despite the turmoil, net income in fiscal 2004 rose 85 percent to $2.3 billion, or a 75 percent increase before the effects of accounting changes.

Eisner's base salary was steady at $1 million while his bonus rose to $7.25 million in cash from $6.25 million in stock, with total compensation rising 13.6 percent.


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Disney President and Chief Operating Officer Bob Iger, a top contender to replace Eisner as CEO, received $12.0 million in compensation, although that included a $3.5 million payout from restricted shares granted in 2002.

Excluding that stock-based compensation granted under a long-term incentive plan, his total package rose to $8.5 million in 2004 from $6.9 million a year earlier.

Iger's salary rose to $1.5 million from $1.4 million, and his annual bonus rose to $6.5 million in cash from $4 million in cash and $1 million in stock.

In its annual report, the company also stood by its long-term outlook for double-digit earnings growth at least through 2007.

Disney shares ended up 4 cents at $27.44 in Thursday trading on the New York Stock Exchange.
 
Wilt Dasney

Wilt Dasney

Well-Known Member
Before we get too up in arms, let's put it in perspective.

The company's earnings increased by 85% last year, and Eisner's bonus went up by less than 15%. Like him or not, that seems pretty fair. The actual dollar amount raise to him was one million. I'm not saying Eisner needs an extra million dollars, but that's really not a lot of money to Disney. It takes several million just to get a mid-level attraction off the ground, so it isn't like Eisner's bonus is robbing us of Fire Mountain or anything. I think that when a company has a year when they're pulling it in hand-over-fist, which those numbers would indicate they did last year, then whoever is at the top deserves some compensation for that.
 
Wilt Dasney

Wilt Dasney

Well-Known Member
I haven't forgotten the vote. One of the primary reasons all those shareholders voted against Eisner was because of poor performance. Disney was sputtering, and a lot of people felt he was to blame. Clearly, unless Disney is cooking the books, the company had a very good year last year. Why would Eisner getting a bonus due to that rile up the shareholders? The only reason they could get mad over Eisner getting a bonus in a year when the company makes money is because of some personal vendetta, unless I'm missing something.

Eisner is on his way out. If the company performs really well between now and when he leaves, isn't he entitled to some compensation because of that? Like him or not, he's the guy setting the company's course. When things go well, he's entitled to some of the windfall. Lord knows he got plenty of windfall of the other kind when things weren't going so well.
 
Shaman

Shaman

Well-Known Member
Maybe if they cut the the cost of Eisner's raises, Disney wouldn't need to layoff or cutback on other things.... :lookaroun

No? :brick:

------------

Veteran Loyal Employee: I'm fired?
Eisner: Well not fired, we have to let you go...(pockets money)...we're losing money....
Veteran Loyal Employee: So I'm fired!? After so many years... (Eyes start to water)
Eisner: Aww...don't cry...we just can't afford it....(pockets more money)...
Veteran Loyal Employee: But its the holidays....
Eisner: Yes...(pockets even more money)....Happy Holidays!
 
HauntedPirate

HauntedPirate

Park nostalgist
Premium Member
Commendations for a year where they almost had nowhere to go but up? Not from me. If anyone in management cared about morale, they would've taken a pay CUT. But since they rarely, if ever, can be bothered to talk to the average CM, they have no clue what morale is like. Unless is comes sugarcoated from an MBA. And any bets on what THAT report would look like?
 

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