Disney signs Chief Executive Robert Iger to new 5-year contract

LOS ANGELES (AP) -- The Walt Disney Co. said on Friday it signed Chief Executive Robert Iger to a new five-year deal that will pay him a base salary of at least $2 million a year through 2013.

He could also receive $10 million or more each year in bonuses.

In a statement Friday, the Burbank, Calif.-based company's board of directors praised Iger's job performance, noting the executive presided over record revenues, net income and earnings per share.

Iger's previous contract was set to expire Sept. 30, 2010. His new contract runs through Jan. 31, 2013.

Disney, which operates film studios, theme parks, TV cable channels and other businesses, ended fiscal 2007 on an upswing, posting annual profit of $4.69 billion, or $2.25 per share, compared with $3.37 billion, or $1.64 per share, in fiscal 2006.

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