Fisher Communications President and CEO Colleen Brown said she will take a 10 percent cut in her base salary next year, and "many of our station leaders and other selected key employees" have volunteered to take a 5 percent reduction.
Fisher Communications President and CEO Colleen Brown will take a voluntary 10 percent cut in her base salary next year “to help Fisher navigate through these challenging times,” she said in a letter to shareholders.
Brown added that “many of our station leaders and other selected key employees have followed my lead by volunteering to take a 5 percent reduction.”
Other cost-saving measures won’t be voluntary. “No 2008 cash bonuses will be paid to the executive management team nor will general salary increases be given across the company in 2009,” Brown wrote, adding that Fisher will take other unspecified steps to curb expenses.
“Many of these measures are difficult on our dedicated workforce,” she acknowledged.
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According to Fisher’s March proxy statement, last year Brown earned $519,306 in salary and $609,789 in other compensation, including a $416,329 cash bonus.