Disney’s top two execs — Bob Iger and newly-installed CEO Bob Chapek — will be taking pay cuts while the company weathers the coronavirus pandemic.
Iger, who is now executive chairman, will forgo his entire Disney salary, while Chapek will take a 50% pay cut. Other top executives will be taking reduced salaries between 20% and 30% depending on their title. Iger, one of the highest-paid executives in Hollywood, earned $47.5 million during the most recent fiscal year.
Early this morning, Disney joined other companies in making deep cuts in salaries for executives. Iger will forego all of his salary.