April 16, 2020
Covid-19: Executive & Director Pay Cuts
– Lynn Jokela
I recently blogged about changes to executive pay at several companies as a result of the fall-out from Covid-19. Here’s a recent report about the Covid-19 impact on executive and director pay at Russell 3000 companies from Semler Brossy. The 20-page report goes into some detail about the pay actions…data looks at magnitude of salary reductions and median CEO and NEO salary reduction by sector.
Over half of the pay reductions have come from the consumer discretionary and industrial sectors. The report says 63% of companies that reduced CEO pay also reduced director pay.
The report then lists companies in the Russell 3000 that have made executive and/or director pay cuts and includes company specific actions…