It was revealed today that Disney’s CEO Bob Iger’s compensation dipped a bit in Fiscal 2016. Disney’s Fiscal Year runs from October through September. According to the company’s 2017 Proxy Statement, “Despite continued strong growth and record performance, and Mr. Iger’s outstanding leadership and successful execution of two key long-term strategic priorities, Mr. Iger’s bonus declined $2.3 million compared to fiscal 2015, because Company growth for fiscal 2016 was not quite as strong as the Company’s growth in fiscal 2015, and the performance ranges set by the Compensation Committee required greater overall growth in fiscal 2016 to maximize bonus opportunities.”
This reduction was partially offset by a small increase in Mr. Iger’s equity rewards. His total compensation for Fiscal Year 2016 was $43,882,396 while his compensation in 2015 was $44,913,614.
Other interesting notes in the Proxy include that Disney’s Chief Human Resources Officer Jayne Parker’s term ends on January 31, 2017. It is expected that she and the company will agree on a new employment agreement.
At the annual meeting, which will be held at 10:00am at the Bellco Theatre in the Colorado Convention Center on March 8, 2017 shareholders will consider the election of Disney’s eleven directors, the appoinment of PricewatherhouseCoopers as Disney’s independent public account, an advisory vote on executive compensation, an advisory vote on the frequency of votes on executive compensation, and two shareholder proposals.
The two shareholder proposals are one on disclosing lobbying activity and the other on access for shareholders to make nomination on the company’s Proxy Statements.
Disney’s Board is advising shareholders to vote for the Directors, PricewaterhouseCoopers, the advisory vote on compensation, that the advisory vote on compensation should be held every year, and against both shareholder proposals.