The board of the Walt Disney Co. (NYSE:DIS) rewarded CEO Robert Iger and CFO Thomas Staggs with new contracts good through 2013.
They cited the chief reasons as the increasing financial growth of the company, negotiating the Pixar Animation Studios acquisition, and the success of the digital strategy under Iger's leadership as the major reasons for the early renewal of the contracts, which had been slated to end on September 30, 2010. The new contract for Iger will end on January 13, 2013.
"Bob is a talented and visionary leader under whom Disney has posted increases in growth and profitability that have consistently exceeded expectations," chairman John Pepper Jr. said. "We are confident he will continue to lead this extraordinary company and talented management team to new levels of creative and business success."
Iger will enjoy a base salary of a minimum of $2 million, and also has bonus incentives which could reach over $10 million.
Since Iger took over the helm of Disney, the company has reached record revenue levels, profits and earnings a share.
Staggs new contract will run till April 1, 2013.
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