Former CEO Bob Iger will no longer draw a wage, while his successor Bob Chapek announces he will be taking a 50 per cent pay cut after the closing of all North American theme parks until further notice.
- March 31, 2020
AceShowbiz - Disney boss Bob Iger has announced he will be leading a series of major coronavirus pay cuts until the company is up and running again after the pandemic.
The 69-year-old executive chairman, who recently stepped down as CEO, will no longer draw a wage, while his successor, Bob Chapek, has announced he'll be taking a 50 percent pay cut.
The Hollywood Reporter obtained emails suggesting other top Disney executives will also be taking salary cuts.
"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," Chapek wrote in the email to Disney staff. "Your dedication and resilience during this difficult time are truly inspiring and it gives me renewed confidence that will we come through this crisis even stronger than before (sic)."
The news of the pay cuts comes after Disney chiefs announced they will be keeping all their North American theme parks closed until further notice.
