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In an email sent to employees this week, Disney announced that top company executives will take pay cuts during the COVID-19 crisis, with exec chairman Bob Iger foregoing his salary entirely. Confirmed by The Hollywood Reporter, the pay cuts come only a few days after Disney announced that it would be closing its theme parks indefinitely, but would continue to pay cast members through April 18. [widget path="global/article/imagegallery" parameters="albumSlug=disney-plus-spotlight-april-2020&captions=true"][poilib element="accentDivider"] Among executives taking pay cuts is newly named CEO Bob Chapek, who will be taking a 50% pay cut. Further, "effective April 5, all VPs will have their salaries reduced by 20 percent, SVPs by 25 percent and EVPs and above by 30 percent," according to the email obtained by THR. "Your dedication and resilience during this difficult time are truly inspiring and it gives me renewed confidence that we will come through this crisis even stronger than before, we have so many times in our company's history," said Chapek's email to employees. [ignvideo url="https://www.ign.com/videos/2020/03/12/disneyland-california-adventure-closing-due-to-coronavirus-concerns"] It's currently unclear how much pay Iger and Chapek will be giving up, as both executives have complicated contracts. In 2019, Iger made just over $47 million in his role as chairman and CEO. THR reports that Chapek has a base salary of $2.5 million, with $7.5 and $15 million incentives in the coming months and years. While the powerful conglomerate may have shut down many of its operations for the time being, it is still looking out for its fans. A few weeks ago Disney announced that Frozen 2 would be coming to Disney+ three months early. Additionally, Onward will be released on Disney+ on April 3, a little bit ahead of schedule. In the meantime, be sure to check out everything coming to Disney+ in the month of April.
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