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Yum! Brands CEO forgoes salary to help employees affected by COVID-19

CEO David Gibbs will forgo his salary to assist company and franchise restaurant employees affected by the coronavirus outbreak.

LOUISVILLE, Ky. — Yum! Brands CEO David Gibbs will forgo his salary to help assist employees affected by the coronavirus outbreak.

In the company's latest SEC filing, Gibbs voluntarily forwent his 2020 salary. His money will be redirected to an employee medical relief fund to provide grants to employees directly impacted by COVID-19, and $1,000 bonuses to the company's general managers at company-owned KFC, Pizza Hut, Taco Bell and The Habit Burger Grill.

The medical relief fund, the company said, includes company and franchise restaurant employees who have either tested positive for coronavirus, are caring for someone with a confirmed case, front-line workers or those facing food insecurity as the food service industry gets hit by the global pandemic.

Texas Roadhouse CEO Kent Taylor will also forgo his yearly salary to assist hourly employees at the company's restaurants across the country.

Both Yum! Brands and Texas Roadhouse have headquarters in Louisville.

WHAS11's Doug Proffitt sat down with local restaurant owners to discuss how coronavirus has impacted their business. Listen to the interview here:

You can listen to The Proffitt Report on Apple Podcasts, Spotify, Google Podcasts, YouTube and anywhere else podcasts are found. Please leave a rating and review and let Doug know what you'd like to hear next.

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