Walt Disney’s Grandson, Brad Lund, Attacks Disney Execs For Taking Bonuses After Furloughing Workers
Walt Disney’s grandson and heir, Brad Lund, got involved in the Disney Twitter feud between family members and the leaders of the company. Lund attacked executives who still plan to receive huge bonuses after furloughing 100,000 Disney workers.
Lund told The Daily Beast he hopes “all family members will join in our dismay over senior Disney management compensation levels while furloughing Disney workers at this critical time.”
In a 25-tweet rant that went viral, Lund’s cousin Abigail Disney, attacked the company’s leaders last month and cited information reported by a Financial Times article.
OK, I’ve been holding my tongue on the theory that a pandemic is no time to be calling people out on anything other than failing us in a public health sense. I thought it might be a moment for peace and reconciliation. But I feel a thread coming on….1/ https://t.co/G1mUq7RmAV
— Abigail Disney (@abigaildisney) April 21, 2020
The article read, “Disney protected incentive schemes, which account for most of the executives’ remuneration. Mr. [Bob] Iger earned $65.6m in 2018 and $47m last year, the latest package is more than 900 times that of the median Disney worker’s earnings, which stands at about $52,000.” The Financial Times later corrected their finding and shared that the $1.5 billion was related to shareholder dividends but that Disney CEO Bob Chapek could be eligible for a bonus “not less than 300 percent of his salary,” as well as “a long-term incentive award of not less than $15m.”
Abigail responded to the article and Disney executives’ behavior tweeting, “WHAT THE ACTUAL F***?????”
“I agree with my cousin Abigail’s sentiments,” Lund told The Daily Beast.
On March 30, Chapek announced that Disney senior executives would be taking a pay cut due to the COVID-19 pandemic. However, Abigail responded to this notice tweeting, “I told people to wait until we heard about the rest of the compensation package, since salary is a drop in the bucket to these guys. The real payday is in the rest of the package.”
Disney executives plan to receive major bonuses while roughly half of its workforce is furloughed.
Disney parks shut down on March 12 to due the COVID-19 pandemic. Workers were paid through April 18 and were able to hold on to their health-care benefits.