If the Financial Times is diving into your perks disclosure, it’s usually not a good sign. But that’s not the case for a recent Financial Times analysis of personal pizza reimbursements for Domino’s execs. Read on if you enjoy a cheesy perks story.
Here’s the deep dish: the Domino’s NEOs have been enjoying several thousand dollars worth of delicious products each year. According to this year’s proxy statement, the CEO received more than $7,000 of food payments in 2022!
The FT takes a stab at tallying the menu items that could possibly total up to these figures – and for the economics geeks out there, it speculates on the behavioral patterns that drive the spending. Are execs regularly feasting on the company’s most expensive option – a large (14”) hand-tossed MeatZZa with premium chicken, bacon, Philly steak, salami, pineapple and shredded parmesan asiago, which retails for $30? Since that pie clocks in at 3,920 calories, I was relieved to see that the company also covers an annual comprehensive physical.
The FT “defies readers to claim they learned anything useful in this piece” — but I did learn a thing or two! First, it had never occurred to me to measure pizza consumption on a square footage basis. Plus, as far as I know, nobody is sharpening their pitchforks over this cheesy situation … yet … which is a rare feat for any perk. However, while the article is full of great infographics, I’ve got to quibble over the lack of pie charts.
– Liz Dunshee, CompensationStandards.com, May 15, 2023
