Monday, April 22, 2019

Abigail Disney says Disney CEO Bob Iger's pay is 'insane'

Posted By on Mon, Apr 22, 2019 at 1:51 PM

click to enlarge PHOTO VIA WIKIPEDIA
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Abigail Disney, the granddaughter of Disney co-founder Roy Disney, thinks the $65 million annual salary Disney CEO Bob Iger earns is "insane," according to social media posts she shared over the weekend.

"Let me [be] 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," Disney, a filmmaker and philanthropist, wrote in a series of messages on Twitter.

She added: "I'm not saying Iger doesn't deserve a bonus. He most certainly does. He is brilliant and has led the company brilliantly. ... 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 cuts make a bonus possible and that tax cut is permanent doesn't it stand to reason you could have given a raise instead?"

That's a pretty solid point, considering that Iger's total pay increased by 80 percent to a whopping $65.6 million last year, according to SEC filings. A study by Equilar found that Iger's compensation was 1,424 times more than the median Disney employee.

"Iger's bonus alone," Disney writes. "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 [sic] living at or below the poverty line."

In September, Walt Disney World Resort unionized workers agreed on a new contract with the company that gave them $1,000 bonuses and also allowed for the phasing in of a gradual salary increases. The salary increase will amount to a $15 hourly minimum by late 2021.

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