Abigail Disney, Roy O. Disney’s granddaughter has taken to Twitter to address her feelings on Bob Iger’s compensation during a conversation on “humane capitalism” at the Fast Company Impact Council, calling a $65.6 million corporate payout “insane” and sharing that it has a “corrosive impact on society.”
She stated in a chain on Twitter that while she does not speak for the entire Disney family, she feels that “any objective measure a pay ratio over a thousand is insane.”
According to a regulatory filing, six of Disney’s top executives, including CEO Bob Iger, received stock awards and options worth a combined $62 million last year. That doesn’t include the additional bonuses — and potentially millions of dollars more — earned by lower-tier executives at the media and theme park conglomerate.
“It’s nice to give a bonus to a person pulling down a salary. Everybody loves that. You know what everybody loves more than that? A raise. And if the tax cut makes a bonus possible and that tax cut is permanent doesn’t it stand to reason you could have given a raise instead?”- Abigail stated in her Twitter thread
“I’m sure the math is complicated. And no one is complaining about pay at the middle and upper levels of the company. So let’s say you just raised the salaries of those in the bottom quartile. That would be 50K employees who would get, on average, a $740 bump from Iger’s bonus alone. That alone would be pretty dramatic. Then add in 50% of the rest of the upper tier bonuses. Now we are talking about a DRAMATIC change in living conditions for people who up til now worked full time and yet we’re living at or below the poverty lineWhat difference would it make in the quality of life for those that gave up half their bonus? None. Zero. Maybe they can’t afford a third home. Or another boat. I’m not being facetious here. That’s the kind of sacrifice we’d be talking about for high level execs. At the 65M dollar bonus range we are talking about something ridiculous. If you send your kid to an expensive school and we cut your bonus in half, gosh you’d give up 740 years of her education. 7.5 $5M yachts you can’t buy. 3.5 $10M jets.”
Let me very clear. I like Bob Iger. I do NOT speak for my family but only for myself. Other than owning shares (not that many) I have no more say in what happens there than anyone else. But by any objective measure a pay ratio over a thousand is insane. https://t.co/O34OjXd6rr
— Abigail Disney (@abigaildisney) April 21, 2019
Source: Abigail Disney/CNN
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