Walt Disney Co. Chairman Bob Iger will give up his salary, and other executives will take cuts in pay, in response to park closings and other hardships tied to the coronavirus.
In a note to senior executives Monday, new Chief Executive Officer Bob Chapek said the cuts begin April 5 and last indefinitely. His salary is being sliced in half, while other executives will see reductions of 20% to 30%.
Bob Iger
Photographer: Martina Albertazzi/Bloomberg
“This temporary action will remain in effect until we foresee a substantive recovery in our business,” Chapek wrote.
Disney joins a growing list of companies to lower executive pay ...
