At least Coke’s shareholders knew what the target was, though. According to the 2001 proxy, Walt Disney’s compensation gurus decided that bonuses: may be based on one or more of the following business criteria, or on any combination thereof, on a consolidated basis: net income (or adjusted net income), return on equity (or adjusted return on equity), return on assets (or adjusted return on assets), earnings per share (diluted) (or adjusted earnings per share [diluted]). In other words, Disney’s CEO was going to get paid no matter what.
