At a time when the entire world is struggling because of the coronavirus pandemic, it can be hard to see what God’s plan is. However, it is important to understand that hard times are also good times because they are when stories of the goodness of people shine the brightest.
In an announcement that is wildly appreciated by the general public, Kent Taylor, who is the CEO of the popular steakhouse chain Texas Roadhouse, has shared that he will forego his salary and bonus pay from March 18 through January 7, 2021.
Taylor came to this decision in order to support his company’s employees who are struggling because of the effects of the coronavirus pandemic. According to Louisiana Business First, Kent Taylor had a salary of $1.3 million as of 2018.
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As per a filing with the Securities and Exchange Commission, the board of directors at Texas Roadhouse voted for the suspension of the payment of the quarterly cash dividends of the common stock of the company. This decision was taken so as to better manage the company’s cash position, while also enhancing its financial flexibility taking into consideration the uncertainties of the global market brought on by the pandemic.
Following their CEO’s honorable decision, other top executives of Texas Roadhouse have also decided to give up their salary and benefits.
During such a difficult time when many frontline workers are struggling, this move from Kent Taylor and the other executives is great news that many will be glad to hear.