Coronavirus: Columbia extends store closures as head takes pay cut
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The head of Columbia Sportswear and at least ten other top executives have taken voluntary pay cuts to help employees and the business through the Coronavirus crisis.
The move coincides with the decision to extend the closure of all its North American stores until April 10th amid safety concerns surrounding the outbreak.
It is being reported that Tim Boyle, President and CEO of the company, will be reducing his annual salary to $10,000. His total remuneration package was $3.3m in 2019.
Announcing the extended closure, Columbia, which is a regular exhibitor at the ICAST fishing trade show, said in a statement: “Out of concern for the health and safety of our employees, customers and their families, we are extending the closure of all our North American brick-and-mortar stores to April 10th.
“Our retail employees will continue to be paid during this period and we hope to have them back at work soon. We encourage consumers seeking our products to visit our e-commerce site. Some of our administrative facilities remain open so that we can continue to provide customer support with the least disruption possible.
“Columbia has been in business since 1938 and has weathered many storms by keeping our focus on the wellbeing of consumers, employees and the larger community. We have taken many steps to carry out health and safety advice from the relevant authorities around the world to limit potential transmission of COVID-19.
“We look forward to seeing you at our stores in future.”