Walt DIsney executives will cut their salaries due to coronavirus
In the context of the ongoing fight against coronavirus, the management of the Walt Disney company will significantly reduce its salary, which consists of a fixed part and bonuses. This was announced in an official press release. So the CEO of Walt Disney, Bob Iger, completely abandoned the remuneration due to him, and the salary of the new head of the company, Bob Chapek, who came to replace him, will be cut by 50 percent. The rest of the department heads will receive 20-30 percent less. The decision will take effect on April 5, 2020. "This pandemic is having a devastating impact on the global and US economy, and it is particularly hitting businesses like ours. Within weeks, all divisions were hit our company, when our parks and hotels were closed indefinitely, our cruises were suspended, our movie and television production was frozen, distributions virtually ceased both domestically and internationally, and our retail stores were closed. Although I am confident that together we will survive this difficult period and become even stronger, we must take the necessary steps to respond to short-term and long-term challenges, "Capek said in a statement. These are very impressive amounts. So, in 2019, Bob Iger's total income was $ 48 million. The Topic of Article: Walt DIsney executives will cut their salaries due to coronavirus. |
