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Disney Cut Iger’s Pay — Calpers Still Gives It Thumbs Down (1)

March 6, 2019, 9:11 PM

The largest pension fund in the U.S. still isn’t happy with Walt Disney Co.’s executive pay.

The California Public Employees’ Retirement System is opposing the company’s compensation plan at the March 7 annual meeting and is voting against two board members who sit on Disney’s compensation committee, according to the pension fund’s website. On March 4, Disney said it reduced Chief Executive Officer Bob Iger’s future pay by $13.5 million a year.

Compensation has been thorny issue for the world’s largest entertainment company. At last year’s annual meeting, more than half of investors voted against the pay plan. While ...