Disney’s Iger, Chapek Take Pay Cuts Amidst Coronavirus Pandemic
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deadline.comBy Jill Goldsmith 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 addresss the economic upheaval and corporate and public pain and PR of the coronavirus.
In a memo to Disney employees, Chapek said that effective April 5, VPs will see a 20% percent salary reduction. SVPs and EVPs and above will see, respectively, a 25% and a 30% cut. “As we navigate through these uncharted waters, we’re asking much of you and, as always, you are rising to the challenge and we appreciate your support,” Chapek said in his email. “Your dedication and resilience during this difficult time are truly inspiring and it gives me renewed confidence that
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