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Disney CEO gets 15 pct pay cut despite "strong results"

Monday, 23 Dec 2013 | 4:31 PM ET

Dec 23 (Reuters) - Walt Disney Co CEO Bob Iger's compensation was cut 15 percent to $34.3 million in fiscal 2013, despite what its board said on Monday were strong results during the year.

He earned $40 million the year before. Disney said in a proxy statement that Iger's base salary stayed the same at $2.5 million, but his bonus was $3 million less. An increase in the discount rate caused a $3.1 million change in the value of his pension, it also said.

Disney also reduced Iger's bonus "because the company's strong results did not outperform against the committee's established performances ranges in fiscal 2013 by the same extraordinary amount as in fiscal 2012."

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