Editor: Please welcome new guest author Daniel Ross
The Avengers helped set even more records away from the box-office. Powered by the Earth’s Mightiest Heroes, Walt Disney Company (DIS on the NYSE) stocks rose to their highest level ever at $45.36 per share. Robert Iger, the CEO of Disney, decided to sell a portion of his stock in the company in order to help his family diversify, which ended up totaling about $81.6 million before taxes.
Even after selling off a portion of his stock, Iger still owns 1.14 million shares, which the company says is 400% more than they require a CEO to own. He has previously stated that he will be stepping down as CEO in 2015 and from Chairman in 2016, after the contracts for those positions expire. At the time of publication, the price for Disney stock was up to $45.17 per share, up roughly 20% from the start of the year.
Do you think Iger is fairly compensated? What sort of projects do you think he’ll use the money for?