ITV’s board and senior administration have introduced that they intend to take a 20% pay minimize and forgo their 2020 bonuses because the coronavirus disaster rocks the worldwide leisure trade.
In a press release to buyers, ITV stated high executives together with CEO Carolyn McCall, chairman Peter Bazalgette and CFO Chris Kennedy requested to have their wage diminished during the government-imposed lockdown. Non-executive administrators may even take a 20% pay minimize.
ITV added that if the lockdown continues past June 30, the remuneration committee will assessment the matter once more. “ITV’s precedence is to guard its people, whereas striving to make sure that it continues to maintain viewers knowledgeable and entertained by way of delivering the information and programmes its viewers worth and love to observe,” the corporate stated.
McCall’s base wage stood at £923,000 ($1.1M) final 12 months, whereas she took residence a bonus of £1.4M in money and shares. Bazalgette earnt £450,000 in his function as chairman in 2019, whereas non-execs pocket between £70,000 and £95,000.
McCall just isn’t the one UK broadcasting CEO sacrificing her pay in the course of the coronavirus pandemic. Sky boss Jeremy Darroch is donating 9 months of his wage to COVID-19 reduction charities. “It is a time for everyone throughout the nation to do their bit and make a distinction the place they will,” Darroch stated.