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Saturday, Nov 26, 2022
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Del Taco Execs Agree to Reduced Pay

Del Taco Restaurants Inc. (Nasdaq: TACO) said its CEO and several other executives have agreed to salary reductions in response to the coronavirus pandemic.

John Cappasola, president and CEO of the Lake Forest-based chain, will see his salary reduced by 20%, according to an SEC filing. The base salaries of Executive Vice President and CFO Steven Brake and COO Chad Gretzema will decline by 15%.

The chain earlier in the month outlined a number of steps it took as a result of COVID-19. That included tapping $50 million from a credit line, shuttering restaurant dining rooms and transitioning corporate employees to working from home.

Del Taco is expected to report results for the first quarter on May 4.

Go here for more updates on how OC companies are responding to the coronavirus pandemic.

For ongoing, in-depth coverage of COVID-19’s effects on OC businesses, see the Monday print edition of the Business Journal.

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