Jobs Won’t Take Pay at Disney
Created 07/02/2006 - 23:00
files/pictures/picture-35.jpgThe Walt Disney Co. has amended its compensation policy for non-employee directors after Apple Computer Inc. ceo Steve Jobs requested not to be paid for serving on Disney's board, according to several news reports.
Jobs, previously Pixar Animation Studio's chairman/ceo, joined the board after Disney purchased Pixar in May for $7.4 billion in stock. Jobs receives $1 a year for his role as Apple Computer's ceo.
Instead of monetary compensation, Jobs has taken stock options or large ownership positions in his companies. He had a majority stake in Pixar, which, after the sale to Disney, made him Disney's largest shareholder with 138 million shares that valued his stake at $3.9 billion at closing.