Executive and Director Pay Reductions

This is the first in a series of Client Updates on executive compensation/governance topics related to COVID-19 that we are publishing to assist our clients as they navigate these challenging times.

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Over the last several weeks, as the global economy shut down, we have seen a steady stream of U.S. companies announcing store and facility closures, reduced hours for workers, layoffs and furloughs. In addition, in response to cash preservation needs,…