Disney executives take pay cuts to curb COVID-19 impact
Walt Disney Co (DIS) currently trades at $100.90 and has grown by 2% in the past 24 hours. Bob Iger, the company’s executive chairman, will forgo all of his salaries while Chapek, who was named CEO in February, said that he would be taking a 50% pay cut. Chapek added that other Disney executives would have their pay cut by 20% to 30% depending on the title.
Based on this information, investorsQ rates this stock 6 out of 10. We give it this rating because Chapek wrote in the email that in a matter of weeks, Disney has “experienced widespread disruption across our company” from its parks and resorts closing to its film and TV production being halted. “While I am confident we will get through this challenging period together and emerge even stronger, we must take necessary steps to manage the short and long-term financial impact on our company,” he wrote. The high forecast for Walt Disney Co is $175.00 and the low is $100.00. Notably, the company’s market cap is $182.30 billion with a 52 week high of $153.41 and a 52 week low of $79.07.