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Businesses of all sizes are going through unprecedented change in the current environment — from reassessing operations and reorganizing supply chains to adjusting their workforce and rewards programs. To ensure business continuity, offset lower sales projections, protect jobs and send a unifying message of shared sacrifices to their employees, leaders are actively reviewing and adjusting executive and board of director compensation.
To help our clients better understand how businesses are responding, Aon created a database tracking 8-K disclosures from Russell 3000 companies on changes made to compensation programs for CEOs, board members and employees more broadly. This article focuses on adjustments made to CEO and board pay, and we plan to cover broader employee pay reductions in a follow-up article. The data reflected in this article was collected through May 5, 2020.
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