Iger, CEO of the Walt Disney Company had his salary and bonuses for 2013 cut by 15% from $40 million the previous year.
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Bob Iger, president and chief executive officer of The Walt Disney Company, and his wife Willow Bay / Getty
Despite producing what even Disney Studios stated were “strong results” Bob Iger, CEO of the Walt Disney Company earned himself a salary of “ just” $34.3 million in the 2013 fiscal year, meaning a drop of 15 percent from 2012.
Announcing the salary cut for Iger, who has been CEO at Disney since 2005, a company spokesperson, explained that while Iger’s base salary remained the same at a modest $2.5 million, the drop was caused by the joint effect of a cut in his bonus of $3 million less added to a decrease in value of his pension benefit, a combination that caused Iger’s total salary package to $34 million.
The Disney spokesperson went on to add that the reason why the company reduced Iger’s bonus was despite the strong results returned, they failed to reach the standards expected in keeping with the management committee’s established performances ranges in the fiscal year of 2013, in comparison to the extraordinary results that were achieved in the 2012 financial year.
Robert Iger graduated magna cum laude with a Bachelor of Science degree in Television and Radio from the Roy H. Park School of Communications in Ithaca, New York, beginning his career in the entertainment industry modestly, with the role of a weatherman for a local television station in Ithaca. In 1974, at the age of twenty-three, Iger joined the American Broadcasting Company, working initially as a studio supervisor with special responsibility for the production of a number of soap-operas and some of the station’s most popular game shows.
In 1976 Bob Iger was transferred to ABC sports division, while in the following year was also given responsibility for heading the news department under the tutelage of station veteran, Roone Arledge.
Iger’s was eventually apponited president of the ABC Network Television Group, a title that he held between the years 1993 and 1994. In 1994, Bob Iger was promoted to president and CEO of ABC’s parent company, Capital Cities/ABC.
Two years later the Walt Disney Company acquired Capital Cities/ABC., immediately renaming it ABC, Inc., with Iger remaining a president of the company until 1999.
In early 1999 Iger was appointed to the role of president of Walt Disney International, the division in charge of overseeing Disney’s international operations, while still remaining as chairman of the ABC Group.
The following year Iger was named president of Disney, five years later replacing Michael Eisner in his role as CEO
In October 2011, Iger was appointed to the role of chairman at Disney to replace John Pepper, who had retired in March 2012.