Mouse’s top cheese gets hefty raise

ANAHEIM (AP) — Disney chairman Michael Eisner’s salary rose 23% from a year ago to $10.65 million in fiscal 1997, up from $8.65 in the last fiscal year, according to the company’s proxy statement filed with the federal Securities and Exchange Commission.

The total doesn’t include Eisner’s exercising of options on 7.3 million Disney shares, which were worth a reported $565 million.

During Eisner’s 15 years at its helm, Disney’s annual revenue has climbed from $1.7 billion to $22.5 billion.

Also, Disney announced Friday it plans to elect its 16 board members at its annual February meeting. Previously, under a staggered election, about a third of the board was elected annually for a three-year term.

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