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Disney Executive Pay Squeaks By at New CEO’s First Meeting (1)

March 11, 2020, 4:00 PM

Walt Disney Co. shareholders greeted new Chief Executive Officer Bob Chapek at the entertainment giant’s annual meeting by narrowly approving its executive compensation plan.

Only 53% of shareholders approved the plan in a nonbinding vote, down from 57% last year. Three major advisory firms had recommended that shareholders reject the proposal, saying Disney’s executive pay was higher than peers’ and wasn’t sufficiently linked to company performance. Disney’s board disagreed with those conclusions.

Bob Iger, who now serves as executive chairman following a 15-year stint as CEO, opened the meeting Wednesday in Raleigh, North Carolina, with words about the coronavirus. ...

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