Disney chief Iger's compensation slips 28% to $29m

The pay of Walt Disney’s chief Robert Iger fell 28% to $29m (£18.1m; 20.2m euros) in 2009, a company filing to regulators has showed.

Disney’s earnings have suffered this year because of the economic slowdown.

However the board praised Mr Iger for “his rapid response to exceptionally challenging economic conditions”.

Separately, Apple head Steve Jobs received his customary $1 annual salary in 2009. Mr Jobs is Disney’s largest single shareholder.

According to documents released by the Securities and Exchange Commission, Mr Iger’s pay divides up as follows:

• $2.04m in salary
• $6.34m in stock awards
• Options valued at $8.31m
• Bonus of $9.25m
• Other compensation of $3.08m

The company said it “seeks to offer compensation that responds to the competitive market or executive talent in such a way that the company can attract executives of the highest calibre”.

Disney’s earnings fell 25% to $3.3bn in 2009 as the recession meant fewer people went to its amusement parks and companies spent less money advertising on its TV networks.

Disney also said it had nominated Faceboook’s chief financial officer, Sheryl Sandberg, for election as company director.

Mr Jobs’ stake in Disney – of 7.4% – is currently worth about $4.5bn.

His 5.5 million shares of Apple’s stock is worth about $1.1bn as Apple’s share price rocketed this year.

PHP Freelancer