After growing profits for eight quarters in a row, Walt Disney Co (DIS) rewarded CEO and president Robert Iger with a total compensation package of $27.7 million, according to the company's proxy.
Iger's existing salary, which will extend through 2010, is for a minimum of $2 million yearly.
For the other compensations, Iger received a $13.7 million bonus for his strong performance, along with another $7.9 million in stock and $2.2 million in options. This was in Disney's fiscal year, which ended on September 30.
During the year, Iger led Disney to a profit of $4.69 billion, equal to $2.25 a share. That is in contrast to the $3.37 billion in profit, or $1.64 a share in 2006.
Revenue during that same time increased to $35.51 billion from the $33.75 billion during the 2006 fiscal year.
A spokesman for Disney said the pay to Iger wasn't near the performance of the company for fiscal 2007.
Iger deserved every penny he got. Now the stock share needs to catch up with the results.
Disney Chief Financial Officer Thomas Staggs received $9.05 million for the fiscal year, which included $4.45 million in bonuses and another $2.2 million on stock.
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