Why has CEO pay skyrocketed? Their pay is set by a company's board of directors, which is stacked with other CEOs and CFOs (chief financial officers), who are all acting in their class interests. For example, current or former chief executives make up ten members of Warner Bros. Discovery's twelve-member board, ten out of eleven members at Disney, and eight out of ten at Comcast. As Duménil and Lévy claim in their analysis of the disciplining functions of neoliberalism, "top management is metamorphosed into financial management."

XREF: Connects to the broader theme of corporate governance capture and how interlocks between executives entrench compensation inequality.

Andrew deWaard, Derivative Media, loc. 120