May 3, 2020
In a leading story published on Friday, Fortune’s CEO Daily, a newsletter received by thousands of executives around the world, cites the ESGAUGE database on pay reduction announcements made by U.S. public companies amid the current health crisis.
Alan Murray, President and CEO of Fortune Media, writes: “CEOs are taking pay cuts in response to the COVID-19 crisis. A report out later today, which was shared early with CEO Daily, finds 11% of companies in the Russell 3000—343 companies—reported executive pay cuts between March 1 and April 24. Some 60% of the reports came from the hospitality and retail sectors, where the job losses have been greatest. Data was compiled from SEC reports by The Conference Board, in collaboration with Semler Brossy and Esgauge.”
Read the article at https://bit.ly/3bZeCcF
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