Disney Senior Executives Take Pay Cuts to Counteract COVID-19 Impact
- 4 years ago
Disney Senior Executives Take Pay Cuts
to Counteract COVID-19 Impact On March 30, Disney CEO Bob Chapek announced
that the company’s senior executives and vice
presidents would have their salaries reduced. Bob Chapek, via
‘Los Angeles Times’ Chapek said that by taking a pay cut, senior
executives would “help shoulder the [financial]
burden” caused by the COVID-19 outbreak. Effective April 5, Executive Chairman Bob Iger,
the former CEO of Disney, will forgo his entire salary.
Chapek will take a 50 percent cut to his salary. Disney vice presidents will receive a 20 percent salary cut,
while senior vice presidents and executive vice presidents
will receive a 25 and 30 percent cut, respectively. According to Chapek, the pay
cuts will remain in effect until
Disney can “foresee a substantive
recovery in [their] business.” Bob Chapek, via
‘Los Angeles Times’
to Counteract COVID-19 Impact On March 30, Disney CEO Bob Chapek announced
that the company’s senior executives and vice
presidents would have their salaries reduced. Bob Chapek, via
‘Los Angeles Times’ Chapek said that by taking a pay cut, senior
executives would “help shoulder the [financial]
burden” caused by the COVID-19 outbreak. Effective April 5, Executive Chairman Bob Iger,
the former CEO of Disney, will forgo his entire salary.
Chapek will take a 50 percent cut to his salary. Disney vice presidents will receive a 20 percent salary cut,
while senior vice presidents and executive vice presidents
will receive a 25 and 30 percent cut, respectively. According to Chapek, the pay
cuts will remain in effect until
Disney can “foresee a substantive
recovery in [their] business.” Bob Chapek, via
‘Los Angeles Times’