Top Lawyers’ Pay Cut as Coronavirus Brings C-Suite Austerity
“Top in-house lawyers are getting their compensation cut along with other executive officers as the new coronavirus causes widespread economic distress,” reports Brian Baxter in Bloomberg Law’s Corporate Governance.
“Marriott International Inc., the Cheesecake Factory Inc., and other companies have announced plans to cut pay for top executives. Bloomberg Law recently reported that gaming company Accel Entertainment Inc.’s leadership is going even further, foregoing 100% of their pay until it hopes normal business operations resume next month.”
“Veta Richardson, president and CEO of the Association of Corporation Counsel, said that she can’t recall another time when executive pay cuts have become so extensive.”
