Texas Roadhouse CEO forgoes salary and bonus to pay front-line restaurant employees
Texas Roadhouse' CEO is stepping up to help pay for staff salaries during the coronavirus outbreak. PHOTOS: How Houstonians are responding to COVID-19... Texas Roadhouse' CEO is stepping up to help pay for staff salaries during the coronavirus outbreak. PHOTOS: How Houstonians are responding to COVID-19... Image 1 of / 39 Caption Close Texas Roadhouse CEO forgoes salary and bonus to pay front-line restaurant employees 1 / 39 Back to Gallery
The CEO of Texas Roadhouse is donating his salary until January of next year to pay front-line employees during the coronavirus outbreak, according to reports.
W. Kent Taylor is forgoing his salary and bonus from March 18 through Jan. 7, 2021, MarketWatch reported.
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Taylor made $1.3 million in salary and bonuses in 2018, and made $8.5 million in 2017, Louisville Business First reported in 2019.
The steakhouse chain is also suspending its dividend "to better manage its cash position and enhance financial flexibility in light of the uncertainty in the global markets resulting from the COVID-19 outbreak," FSR magazine reported.
The chain has more than 600 locations in 49 states, according to reports.
HeyyyKoolAid on March 26th, 2020 at 21:19 UTC »
Haven't eaten at a Texas Roadhouse in years, but good on that CEO to look after their employees. It's nice to see that every corporation isn't a profit hungry suck hole.
Edit: another Redditor pointed out while this doesn't change their profits, at least the CEO was willing to put aside his own finances to support those who are truly struggling.
SwansonSpiritAnimal on March 26th, 2020 at 21:03 UTC »
I knew I liked this place for more than just their butter and rolls.
Major_Message on March 26th, 2020 at 20:57 UTC »
I hope people remember, when this is all over, which businesses looked after their employees and which ones didn't. (I'm looking at you, Hobby Lobby.)