Signs of recession???
Dick's Sporting Goods, the US's biggest sporting goods retailer, announced today that Chairman and CEO Ed Stack and President Lauren Hobart will receive no salary, other than an amount covering benefits provided by the company.
This will start on March 29.
Dick's also announced temporary reductions by 50% in base salaries of named executive officers.
The company is also significantly reducing its planned capital expenditures, temporarily suspending its share repurchases, and evaluating its dividend program.