Texas Roadhouse CEO gives up salary to pay front-line employees during COVID-19 outbreak

AUSTIN, Texas (CBS Austin) - The CEO of Texas Roadhouse restaurants is giving up his salary and bonus for the year in order to pay the chain's front line employees during the COVID-19 pandemic.

MarketWatch reports W. Kent Taylor will forgo his base salary and bonus from the pay period starting March 18 through Jan. 7, 2021.

In 2018, Louisville Business First reported Taylor's total compensation was $1.3 million with his base salary being $525,000.

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The steak house chain said it is also suspending its dividend as it moves to conserve cash during the coronavirus pandemic.