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No bonus for Disney's Eisner
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January 4, 2002: 7:25 p.m. ET
House of Mickey fails to meet 2001 financial targets, proxy says.
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NEW YORK (CNN/Money) - Walt Disney Co. Chairman and CEO Michael Eisner did not receive a bonus in fiscal 2001 due to the company's poor performance, a company proxy revealed Friday.
Burbank, Calif.-based Disney (DIS: up $0.58 to $22.70, Research, Estimates) failed to meet financial targets set by a subcommittee, a proxy statement filed with the Securities and Exchange Commission revealed.
"After the end of the fiscal year, the subcommittee determined that the 2001 targets had not been achieved, primarily due to non-cash charges associated with the discontinuation of go.com and certain one-time charges relating to the reduction of the company's workforce," the company said. "Consequently, no bonuses were paid under the plan."
Eisner, whose employment agreement extends through Sept. 30, 2006, receives a $1 million annual base salary.
Eisner, in a letter to shareholders Thursday, expressed his dissatisfaction with the company's stock performance last year. Attendance at Disney theme parks is still off from last year's levels while ratings at its ABC television network have also plummeted.
Disney also cut 4,000 employees in 2001. 
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