The shareholders of Disney vote against the compensation of the CEO

(Reuters) – Walt Disney announced Thursday that its shareholders, in a vote a non-binding ordinary general shareholders ‘ meeting, had rejected the proposed remuneration of the CEO Bob Iger and other senior executives of the giant american entertainment.

A majority of 52% of shareholders voted against the project, according to the preliminary results of the annual general meeting, with 44% of votes in favour and 4% of abstention.

“The board of directors accepts the result of the vote is non-binding and will take it into consideration for future compensation of officers,” said Aylwin Lewis, chairman of the remuneration committee, in a press release.

In December, the contract of Bob Iger has been extended until the end of 2021 when Disney announced its purchase activities, cinema and television of the Twenty-First Century Fox (NASDAQ:FOX) in a transaction to 52.4 billion dollars.

In the framework of his contract extension, the CEO is entitled to receive a salary and bonus of $ 48.5 million in total (39.4 million euros) once the operation Fox buckled, according to regulatory documents.

Aylwyn Lewis pointed out that the council had decided that it was “imperative” that Bob Iger remains CEO to lead the integration of the operations of Fox. For its part, Fox has also found its presence “essential”, he added.

The pay of Bob Iger has declined from 17% in fiscal year 2017, to 36.3 million. He received a bonus in cash is lower because of the “lack of growth” over the year to the end of September, according to documents.

(Lisa Richwine in Los Angeles and Taenaz Shakir in Bangalore, Juliette Rouillon for the French service)