Callaway CEO Chip Brewer Forgoing Salary Amid Coronavirus Pandemic
- Category: Inside Golf
- Published: 2020-04-10
By JONATHAN WALL, Golf.com
Callaway’s Chip Brewer became the latest high-profile CEO to forego his base salary amid a global pandemic that’s forced golf equipment manufacturers to reassess their day-to-day business operations. As part of an SEC filing, the company said it was “proactively taking actions to significantly reduce costs and conserve cash in order to mitigate the impact of the coronavirus outbreak on its business.”
Brewer will forgo any base salary — his base salary was $900,000 in 2019 — beginning with the next pay period. In 2019, Brewer’s total compensation was reported at $5.8 million. In most cases, CEO compensation at a publicly traded company is a combination of base salary, stock ownership, and bonuses.