Texas Roadhouse CEO Kent Taylor is giving up his salary and bonus for the year in order to pay the steakhouse chain's front-line employees during the coronavirus pandemic.
Taylor elected to forgo his base salary and incentive bonus from the pay period starting March 18 through Jan. 7, 2021, according to a MarketWatch report.
According to Louisville Business First, Taylor's compensation was $1.3 million in 2018, down from $8.5 million in 2017. His base salary was $525,000. He received stock awards of $7.3 million in 2017 and none in 2018.
Taylor started the business back in 1993 with the opening of the first Texas Roadhouse in Clarksville, Indiana. The company has since grown to 611 restaurants in 49 states and 10 foreign countries.
The steakhouse chain is open during the coronavirus pandemic for takeout.
Taylor posted this message on the Texas Roadhouse website:
“In the areas where our dining rooms are closed, we are ramping up our to-go and curbside services and we are also turning some of our parking lots into temporary drive-thrus to serve our regular menu. We are rolling out Family Value Packs as well, so stay tuned to your local Texas Roadhouse for more information.”