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Columbia Sportswear: CEO cuts own salary and employees get regular pay

Apr 2, 2020 United States
Columbia Sportswear: CEO cuts own salary and employees get regular pay
Tim Boyle, President and CEO of Columbia Sportswear, will be reducing his annual salary to 10 000 US dollars. The company plans to continue to offer regular pay its employees
In 2019, Tim Boyle’s total compensation was 3.3 million US dollars in 2019. There have been reports that some top executives are taking voluntary 15% pay reduction as well.

The decision is made public as Columbia announced it would be extending the closure of all its stores in North America until the 10th of April due to safety concerns amid the outbreak.

"Columbia has been in business since 1938 and has weathered many storms by keeping our focus on the well-being of consumers, employees and the larger community. We have taken many steps to carry out the health and safety advice from the relevant health authorities around the world to limit potential transmission of COVID-19. We look forward to seeing you at our stores in the future", Tim Boyle said in a statement.

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