Walt Disney Co shareholders rejected an executive compensation plan that could reward Chief Executive Officer Bob Iger with up to $48.5 million a year over four years plus an equity grant worth about $100 million, in a non-binding vote on Thursday [March 8, 2018].<P><P>The total compensation is tied to the closing of Disney’s planned $52.4 billion acquisition of film and TV assets from Twenty-First Century Fox and meeting performance targets.<P><P>Fifty-two percent of shareholders voted against Disney’s compensation plan for Iger and other executives, the company said at its annual shareholder meeting in Houston. Forty-four percent cast ballots in favor and 4 percent abstained.”<P><P>The board accepts the result of today’s non-binding vote and will take it under advisement for future CEO compensation,” Aylwin Lewis, chair of the board’s compensation committee, said in a statement.

Source: Disney shareholders vote against CEO Iger’s pay package