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As the coronavirus pandemic hit business around the Earth , DisneyExecutive Chairman Bob Iger will give up his salary andnew CEO Bob Chapekwill take a 50 % cut . Up until latterly , Iger was expected to stay on in his former position of chief operating officer until 2021 . However , Disney surprise lover last month with the announcement that Parks Chairman Chapek would pace in , effective immediately . As it turn out , it was the start of a tumultuous time for the company .
Last week , the Walt Disney Co. announcedDisneyland and Walt Disney World would close indefinitelydue to the coronavirus . The closedown was ab initio design to last through March . Their movie product and distribution have been touch on as well . The upcoming Marvel Cinematic Universe filmBlack Widowhas been indefinitely postponed , with some , include star David Harbour , questioning if it should be released on Disney+ .
bear on : Coronavirus : Every Movie and TV Show Production Delayed
Iger is one of the highest paid media executives in the world . Meanwhile , Chapek earns $ 2.5 million in wage , but also has a yearly incentive and other incentives . " As we navigate through these uncharted waters , we ’re need much of you and , as always , you are rising to the challenge and we apprise your support , " Chapek wrote in an email get off to employee obtained byTHR . He run on to say , " Your loyalty and resilience during this hard time are truly inspiring and it pass me renewed confidence that will we come through this crisis even strong than before , we have so many time in our company ’s account . " Besides the cuts to Iger and Chapek ’s salaries , Disney ’s vice presidents will have remuneration cut by 20 per centum . Meanwhie , senior vice chairwoman see a 25 percentage reducing , and executive vice presidents ' salaries will be slashed 30 percent beginning April 5 .
In other coronavirus - related delays , Disney pulledMulanfrom its scheduled release , a film that was expect to do especially well overseas . While some Disney+ programme , like upcoming seriesThe Falcon and the Winter Soldier , are have output delays , the cyclosis service has not been reach by the coronavirus outbreak . So far , no exit holdup for the streamer have been announced Disney+ , which launched in November , sawsubscriptions triple in a weekas citizenry went into impose closing off . Disney+ also joined other streaming platformswho agreed to temporarily reduce datum consumption in Europe during the aesculapian crisis .
Of of course , this tidings does n’t mean Iger will be working for free . At the last of the twelvemonth , Iger will still likely collect a huge bonus . During his fifteen days with Disney , Iger has also prop up up a large amount of portion in the company . That being said , it ’s a gesture some other CEOs and executives have n’t yet made to their employees . It also shows just how seriouslyDisneyis taking the loss of revenue due to the coronavirus . Hopefully , once the pandemic is over , the party will be able to bounce back with the rest of the entertainment industry .
Next : Disney+ : Every New Movie & TV Show arrive In April 2020
rootage : THR
