Disney Chair Robert Iger, CEO Bob Chapek to Take Pay Cuts
March 30 2020 - 5:59PM
Dow Jones News
By Kimberly Chin
Walt Disney Co. said Chairman and former Chief Executive Robert
Iger has agreed to forgo most of his salary while his successor,
CEO Bob Chapek, along with several executives, will take pay cuts
as the company works through challenges stemming from the
coronavirus outbreak.
In addition to giving up his salary, Mr. Iger will waive his
right to a car allowance, the company said Monday. Disney will
continue to pay him for health-care benefits.
Mr. Chapek will forgo half of his salary.
Disney said several executives including President and General
Counsel Alan Braverman, Finance Chief Christine McCarthy, Human
Resources Chief Jayne Parker and Communications Chief Zenia Mucha
have agreed to cut 30% off their base salary.
The cuts will take effect starting April 5.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
March 30, 2020 17:44 ET (21:44 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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