Walt Disney’s executive chairman and former CEO Bob Iger will forgeo salary and his successor as chief executive Bob Chapek will take a 50% pay cut as companies address the economic upheaval and corporate and public pain and PR of the coronavirus
will take a 50% pay cut as companies address the economic upheaval and corporate and public pain and PR of the coronavirus.
Disney is the latest large company to slash salaries in the global pandemic. Boeing’s CEO Dave Calhoun and board chairman Larry Kellner have agreed not to receive any additional pay until the end of the year. Marriott International’s CEO Arne Sorenson and executive chairman Bill Marriott are receiving no pay during the downturn in business. Cash-strapped AMC Entertainment on its earnings call in late February announced pay cuts for its top executives .
This is a trying period for all of us and as we navigate these challenging times together and make adjustments in our daily lives, we’re grateful for everyone’s continued flexibility and understanding.
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