Museick
Mouseketeer
- Joined
- Jan 6, 2010
(Reuters) - Walt Disney Inc (DIS.N) Executive Chairman Bob Iger will forgo his salary and newly named Chief Executive Officer Bob Chapek will take a 50% pay cut amid the coronavirus crisis, according to an internal email from Chapek.
Disney will reduce the salaries of its vice presidents by 20%, senior vice presidents by 25%, and executive vice presidents and above by 30% effective April 5, according to the email. “This temporary action will remain in effect until we foresee a substantive recovery in our business,” wrote Chapek.
Disney will reduce the salaries of its vice presidents by 20%, senior vice presidents by 25%, and executive vice presidents and above by 30% effective April 5, according to the email. “This temporary action will remain in effect until we foresee a substantive recovery in our business,” wrote Chapek.