LA Times (July 16)
2021/ 07/ 17 by jd in Global News
“The financial crisis created by the pandemic prompted executives at hundreds of America’s largest publicly traded companies to voluntarily lower their own base salaries. They made a point of announcing these cuts in news releases and earning calls with analysts.” In many cases, this was a gimmick. In one egregious case, Christopher Nassetta, Hilton’s Chief Executive “opted to forgo his entire base salary for the rest of the year,” amid furloughs and job cuts, but his “compensation package more than doubled to $55.9 million in 2020, compared with $21.4 million in 2019.”
Tags: Analysts, Earning calls, Executives, Financial Crisis, Gimmick, Hilton, Nassetta, News releases, Pandemic, Publicly traded, Salaries
