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Cinemark Top Executives Follow Walt Disney, AMC Ent. In Foregoing Salary
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deadline.comBy Jill Goldsmith It’s offcially a trend: Cinemark CEO Mark Zoradi and the theater chain’s board of directors are following executives from Walt Disney, which is cutting salaries, and AMC Entertainment which has furloughed its entire staff including CEO Adam Aron, to save cash during the coronavirus pandemic.
In the case of Zoradi, he will not take any salary for the foreeable future and other U.S. corporate employees will see deep cuts in compensation, voluntarily.
The economic crisis caused by the coronavirus has hit the media and entertainment sector hard, no area worse than exhibition.
Theaters are shuttered, generating no revenue at all while companies still have lease and other finacial obligations and find their liquidity
Read more on deadline.com
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