The chief executive officer of Texas Roadhouse restaurants said he is giving up his salary and bonus so the chain’s front-line employees can be paid during the coronavirus pandemic.
Wayne Kent Taylor will begin donating his checks from the pay period beginning March 18 through Jan. 7, 2021, Market Watch reported Wednesday.
Louisville Business First reported Taylor’s total compensation package in 2018 was $1.3 million with his base salary being $525,000.
In a filing with the Securities and Exchange Commission, Texas Roadhouse said it is also suspending its dividend in an effort to conserve cash during the pandemic, according to Market Watch.
Texas Roadhouse, a publicly traded company based in Kentucky, employs more than 56,000 workers and has 563 locations in the U.S. and internationally, the website reported. Taylor, 63, founded the chain in 1993, opening his first restaurant in Clarksville, Indiana, USA Today reported.