Jobs asks to be excluded from Disney board pay

[crazy4wdw]

Jobs asks to be excluded from Disney board pay
Fri Jun 30, 2006 6:16pm ET

LOS ANGELES, June 30 (Reuters) - The Walt Disney Co. board of directors has modified its compensation policy to exclude director Steve Jobs from receiving compensation for serving on the board, Disney said in a securities filing on Friday.

The board said it approved the change on Wednesday at Jobs' request. Jobs, who is chief executive of Apple Computer Inc., joined the Disney board in May, after trading his majority stake in Pixar Animation Studios Inc. for Disney stock.

Jobs, as chief executive of Apple, maker of the Macintosh computer and the iPod digital music player, has for years taken an annual salary of $1.

 

[SarahandPaul]

Well, I guess he doesn't really need the money.

 

[sistertrip]

Even though he doesn't need the money, it seems pretty big of him to recognize that.

 

[Buzz2001]

more should follow his lead

CEOs near record on pay ratios

 

[Tink's Tormentor]

And yet salaries for people who actually DO work and not play around on the golf courses stay stagnent and low... How pathetic...

 

[SarahandPaul]

And yet salaries for people who actually DO work and not play around on the golf courses stay stagnent and low... How pathetic...

Well those people could use their spare time to start a computer company in their garage.

 

[DancingBear]

Well those people could use their spare time to start a computer company in their garage.

Tink wasn't talking about Jobs (who, if you were paying attention, is certainly not an overpaid CEO), but about the article on CEO pay. Although I believe most CEOs actually work quite hard, the acceleration of CEO pay, and disproportionality of CEO pay to average worker pay, is a significant issue for major investor groups, not just for those who see it as a social justice issue.