updated 12:15 pm EDT, Mon July 3, 2006
Jobs declines Disney pay
Walt Disney has said it amended its director-compensation policy to accommodate Apple's CEO, Steve Jobs, who requested not to be paid for serving on Disney's board, according to the Wall Street Journal. Jobs joined the board after Disney acquired Pixar Animation Studios in May for $7.4 billion. The executives' decision to refuse payment as a Disney board member is in line with his history of declining pay at companies he leads; Jobs currently receives $1 per year for his role as CEO at Apple. The Cupertino-based company on Thursday launched an internal investigation on irregularities related to stock options between 1997 and 2001, which included one potentially problematic grant to Steve Jobs himself. The company's stock fell as much as 4 percent following the announcement of the investigation, and Merill Lynch analyzed the probe the following day.