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Disney Heiress escalates attack on company’s pay practices

Disney Heiress escalates attack on company’s pay practices
Business
LOS ANGELES—Heiress Abigail Disney made headlines Monday after she harshly criticized the company founded by her great-uncle on Twitter. On Tuesday she escalated her attack, writing in an opinion column about what she called the “naked indecency” of the company’s pay practices.

Abigail Disney, the granddaughter of Walt Disney Co. co-founder Roy O. Disney, sharply rebuked the most recent pay package for CEO Bob Iger.  (Luis Sinco / TNS)

(Iger’s pay was made up of $39.3 million in annual compensation, with restricted stock awards tied to the acquisition of 21st Century Fox assets making up the balance.)

The company aggressively disputed Abigail Disney’s assertions.

“Disney has made historic investments to expand the earning potential and upward mobility of our workers, implementing a starting hourly wage of $15 at Disneyland that’s double the federal minimum wage,” the company said in a statement. It added that the company had committed up to $150 million for an education initiative that gives hourly employees the opportunity to obtain a college or vocational degree at no cost.

Abigail Disney posted several tweet storms Sunday in which she fulminated about the company’s “rock-bottom wages” for entry-level workers and called Iger’s pay “insane.”

Abigail Disney is a granddaughter of Roy O. Disney, who founded the company in 1923 with his brother, Walt Disney. The Disney family has not been involved in managing the company since Roy E. Disney, Abigail Disney’s father, stepped down from the board in 2003. He subsequently led a shareholder revolt that led to Michael Eisner’s resignation and Iger’s ascendance. Roy E. Disney died in 2009.
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