Floor & Decor announced its leadership team will take pay cuts in response to the current business environment created by the coronavirus pandemic.
Effective March 27, CEO Tom Taylor will receive no salary other than company benefits, and the base salaries of President Lisa Laube and Executive VP and CFO Trevor Lang will be reduced by 50%. The base salaries of the rest of the company’s senior management team and other salaried teammates were also temporarily reduced by graduated amounts, according to an SEC filing. Floor & Decor’s board of directors also agreed to a suspension of retainer fees during the crisis.
The company announced March 19 it would keep stores open where possible and reduce its hours of operation in response to the pandemic.
