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.
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