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December 23, 2004
Disney Revamps Executive Pay Policies
The Walt Disney Co. has revamped its executive compensation policy, requiring top officers to own and hold more stock and tying stock awards to the performance of the company's share price.The new policy comes atop other compensation changes the board made in September to Disney's bonus plan, which tied executive bonuses more closely to the company's financial performance. The plan also reduces the amount of stock options granted to executives, shifting the majority of grants to restricted stock units. The changes come as the Burbank-based company plans to replace longtime chief executive Michael Eisner, who has said he will retire when his contract expires in 2006. The company said it expects to name a successor by June.
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Posted By: Ray @ 8:01 PM | 
