... [+]With theme parks closed, production shut down and movie theaters shuttered, Disney, like every major Hollywood studio, is losing billions due to the coronavirus. In response, chairman and former CEO Bob Iger has decided to forego his eight-figure salary, while current CEO Bob Chapek will take a 50% pay cut.
Iger is routinely the highest-paid executive in entertainment, earning $47.5 million last year as Disney’s chairman and CEO. In addition to giving up his salary, he donated $500,000 to the city of Los Angeles to help fight COVID-19.and an annual long-term incentive grant of $15 million.VPs taking a 20% salary reduction, SVPs taking a 25% cut, and EVPs and above taking a 30% hit.
Meanwhile, the conglomerate remains committed to paying cast members and hourly workers at its parks and resorts through April 18. Disney, the world’s biggest entertainment company, is taking hits across the board, announcing on March 27 that its theme parks, a
Source: Entertainment Trends (entertainmenttrends.net)
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