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Texas Roadhouse CEO gives up salary to pay front-line workers

Posted: 6:47 AM, Mar 26, 2020
Updated: 2020-03-26 10:02:10-04
Report: Texas Roadhouse to raise prices

Texas Roadhouse CEO Kent Taylor announced that he was going to forgo his salary and bonus pay period starting March 18 through Jan. 7.

He said the decision was in order to help front-line workers, according to MarketWatch.com.

The steakhouse chain’s board of directors voted Tuesday to suspend the payment of quarterly cash dividends of the company’s common stock, effective with respect to dividends occurring after March 27, “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.”

In 2018, Taylor's salary was $1.3 million, according to Lousiana Business First.