Bob Iger temprarily forgoes 100% of salary amongst drastic cuts in salary for all Disney senior level leadership
MouseInfo independently confirmed today that an email went out to to those employed by the Walt Disney Company confirming temporary reduction in salaries for senior leadership; from the most drastic measures (Iger volunteering 100% of his salary) to comparatively more more modest decreases between 20% and 50% at varying scales depending on position within the company.
The partial statement below was sent out to Company employees via email.
…We are going to be implementing a variety of necessary measures designed to better position us to weather these extraordinary challenges. Among them, we will be asking our senior executives to help shoulder the burden by taking a reduction in pay – effective April 5, all VPs will have their salaries reduced by 20%, SVPs by 25%, and EVPs and above by 30%. I will be taking a 50% reduction in my salary. This temporary action will remain in effect until we foresee a substantive recovery in our business. Our executive chairman, Bob lger, has chosen to forgo 100% of his salary.
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. Your dedication and resilience during this difficult time are truly inspiring, and it gives me renewed confidence that we will come through this crisis even stronger than before,as we have so many times in our company’s history.
Please continue to take care of yourself and your loved ones, stay well, and know that we are here to support you.
— Bob Chapek, CEO, The Walt Disney Company