Disney chief got $5 mil. bonus

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Wednesday, Jan. 29, 2003 | 9:37 a.m.

LOS ANGELES -- Walt Disney Co. Chief executive Michael Eisner was granted a $5 million bonus last year, even as the company's stock plunged 34 percent.

Disney's board awarded the bonus, which Eisner elected to take in stock, for the "effectiveness and quality of Mr. Eisner's leadership of the company in a difficult economic environment," according to the company's proxy statement filed Tuesday with federal regulators.

Eisner also was rewarded for setting the stage for the company's expected turnaround, the board said. Eisner presented a five-year growth plan last year after pressure mounted from the board and investors to improve performance.