Former Disney CEO and current Executive Chairman, Bob Iger announced that he is giving salary during the Coronavirus outbreak. While his salary only accounts for $3 million out of his $47.5 million in total compensation he received in 2019.
The new CEO of Disney, Bob Chapek, announced that his $2.5 million salary is being cut in half during the outbreak. All of this is a part of a pan where all of Disney’s vice presidents will see a 20% decrease in salary and all senior and executive vice presidents will see a 25-30% cut.
“In a matter of weeks, we’ve experienced widespread disruption across our company, with our domestic parks and hotels closed indefinitely, our cruise line suspended, our film and TV production halted and theatrical distribution delayed both domestically and internationally, and our retail stores shut down,” Chapek wrote in a Monday email to staffers.
Disney closed their theme parks last months and continue to pay their employees despite being closed.