Disney shareholders throw out CEO's pay package as 'excessive'

Los Angeles

WALT Disney shareholders rejected an executive compensation plan that could reward chief executive officer Bob Iger with up to US$48.5 million a year over four years, plus an equity grant worth about US$100 million, in a non-binding vote on Thursday.

The total compensation is tied to the closing of Disney's planned US$52.4 billion acquisition of film and TV assets from Twenty-First Century Fox and meeting performance targets.