Coronavirus: Columbia Sportswear CEO cuts salary to $10,000

Coronavirus: Columbia Sportswear CEO cuts salary to $10,000
FILE PHOTO: Columbia Sportswear CEO Tim Boyle has cut his salary to $10,000 while employees will continue to receive their regular pay. (Yellowcard/Wikimedia/Yellowcard/Wikimedia)

Columbia Sportswear CEO Tim Boyle has cut his salary to $10,000 while employees will continue to receive their regular pay.

At least 10 other top executives took a voluntary 15% pay cut, The Oregonian reported.

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The company’s nearly 3,500 employees are receiving their regular paychecks through a “catastrophic pay” program while its stores are closed amid the coronavirus outbreak.

The stores closed March 16 and will remain shuttered at least another two weeks.

Boyle was paid $3.3 million in total compensation in 2018, The Oregonian reported.

Earlier this week, Wayne Kent Taylor, CEO of the Texas Roadhouse restaurant chain, said he would give up his salary. In 2018, his total compensation was $1.3 million.