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Disney Refuses to Cut Directors' Pay

The Walt Disney Company yesterday revealed that it has no intention of trimming directors’ pay despite attacks from shareholders that almost resulted in the ousting of chief executive Michael Eisner last year, Telegraph reports.

Disney CEO 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 on Thursday. 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.

Disney President and COO Bob Iger received $12.0 million in compensation, including a $3.5 million payout from restricted shares granted in 2002.

[Source: Reuters]

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