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May 14, 2004

Eisner Retains $1 Million Salary

Michael Eisner will keep his $1 million annual salary as chief executive of The Walt Disney Co., although he no longer serves as board chairman, according to the company's quarterly report filed Thursday. In March, Disney's board stripped Eisner of his chairmanship. The change in Eisner's status meant a new employment agreement had to be negotiated. The amended contract also specifies that Eisner will "retain the same duties and responsibilities, with the same scope of authority" that he had as chief executive under his previous deal. By not mentioning the issue of salary, the amended contract leaves in place Eisner's base salary of $1 million.

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Posted By: Ray @ 9:24 AM | permalink

 

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