Marriott CEO says coronavirus is ‘like nothing we’ve ever seen,’ cuts his salary to $0

Marriott CEO Arne Sorenson

Marriott CEO says coronavirus is ‘like nothing we’ve ever seen,’ cuts his salary to $0 Arne Sorenson became one of several company chief executives that he will not be taking a salary for the rest of the year, responding to the fallout from the coronavirus. “In terms of our business, COVID-19 is like nothing we’ve ever seen before,” Sorenson said. “For a company that’s 92 years old, that’s borne witness to the Great Depression, World War II, and many other economic and global crises, that’s saying something.” The leader of the world’s largest hotel company added: “I will not be taking any salary for the balance of 2020 and my executive team will be taking a 50% cut in pay.”

By Aarthi Swaminathan for: www.yahoo.com
Read full story: www.finance.yahoo.com

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