Texas Roadhouse CEO Foregoes Salary For 1 Year To Pay Workers Amid Coronavirus
Texas Roadhouse CEO is giving up his base salary, bonus to pay for 1 year to the companies employees.
According to recent reports, Kent Taylor the CEO of Texas Roadhouse will give up his pay for the rest of the year so that his salary and bonus money can go to “front-line workers” who are dealing with industry shutdown and restrictions aimed from the spread of COVID-19 virus.
The steakhouse chain revealed Taylor’s move Wednesday in a securities filing.
Texas Roadhouse CEO Ken Taylor’s compensation was $1.3 million in 2018, down from $8.5 million in 2017.
In 2018, Taylor’s base salary was $525,000 and his incentives compensation bonus was $829,316, according to Louisville Business First.
A spokesperson for the company confirmed reports on Thursday that Kent Taylor will be redirecting his bonus and the base salary he would have received to the pockets of his chain’s frontline workers instead.
“Kent Taylor has always said that Texas Roadhouse is a People-company that just happens to serve great steaks. His donation of his salary and bonus to help employees is the embodiment of that saying,” the spokesperson said. “We are blessed to have his leadership.”
Texas Roadhouse is headquartered in Louisville, Kentucky. It has over 500 dining establishments in 49 states.
Although the have temporarily halted inside dining at their locations amid the outbreak the company is till offering to-go and curbside delivery options at their locations for customers.
We're proud to be part of #TheGreatAmericanTakeout campaign. Support those working in the food-service industry on Tuesday, March 24, by ordering TO-GO for dinner at your local Texas Roadhouse. Visit https://t.co/qMOq9OXTbI to view our menu and order./p>— Texas Roadhouse (@texasroadhouse) March 23, 2020
The Texas Roadhouse restaurant chain took part in “The Great American Takeout” campaign on Tuesday as restaurants around the country have been limited to serving to-go meals only in an effort to slow the spread of coronavirus.
“We’re still open for business,” the spokesperson added.
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