Us pension funds and UK fund manager raise concerns over rising rewards and concentration of power in hands of Bob Iger
A revolution is brewing in the tree-lined streets of Walt Disney's Magic Kingdom, as shareholders prepare to fight the creeping power and rising rewards of the chairman and chief executive, Bob Iger.
The second largest pension fund in the Us, the Californian teachers fund CalSTRS, which owns more than 5m Disney shares, or 0.3% of the company, said it would vote against Iger's re-election as chairman and Disney's executive pay packages at the company's annual meeting on Wednesday.
Iger took home more than $40.2m (£27m) in the year to September 2012, including a cash bonus of $16.5m.
CalSTRS has had support from the Californian public sector workers pension fund CalPERS, which owns another 0.3% of Disney, for its proposal to strip Iger of one of his roles.
In 2004 when Michael Eisner was in charge, »
- Josephine Moulds
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