Disney cuts CEO pay, adds Twitter co-founder to board

Walt Disney Co has slashed Chief Executive Bob Iger's fiscal 2013 compensation by 15 percent with a bonus cut, and named Twitter Inc co-founder Jack Dorsey an independent board director. Dorsey, widely credited with creating Twitter alongside fellow co-founders like Ev Williams, Biz Stone and Noah Glass, will stand for election at Disney's March 18 annual meeting, Disney said in a statement on Monday. In November, Twitter's initial public offering valued Dorsey's roughly 4.9 percent stake in the messaging service at about $1 billion.

via Tech News Headlines - Yahoo News http://news.yahoo.com/disney-names-twitter-co-founder-dorsey-board-203024935--sector.html