Disney Senior Executives Take Pay Cuts <br />to Counteract COVID-19 Impact On March 30, Disney CEO Bob Chapek announced<br />that the company’s senior executives and vice<br />presidents would have their salaries reduced. Bob Chapek, via<br />‘Los Angeles Times’ Chapek said that by taking a pay cut, senior<br />executives would “help shoulder the [financial]<br />burden” caused by the COVID-19 outbreak. Effective April 5, Executive Chairman Bob Iger,<br />the former CEO of Disney, will forgo his entire salary.<br />Chapek will take a 50 percent cut to his salary. Disney vice presidents will receive a 20 percent salary cut, <br />while senior vice presidents and executive vice presidents<br />will receive a 25 and 30 percent cut, respectively. According to Chapek, the pay<br />cuts will remain in effect until<br />Disney can “foresee a substantive<br />recovery in [their] business.” Bob Chapek, via<br />‘Los Angeles Times’
