BlueLinx CEO's new salary: $1 per month
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The CEO of the Atlanta-based building products distributor BlueLinx Holdings is taking a voluntary pay cut -- to one dollar per month.
In a Form 8-K report to the Securities and Exchange Commission, BlueLinx said CEO Mitch Lewis will reduce his pay "in light of the COVID-19 pandemic and its potential impact on the company’s business and industry, and the economy in general."
Instead of his annual base salary of $850,000, Lewis will receive $1 per month for a period of six months, beginning April 1.
According to the March 22 filing, "the agreement also permits Mr. Lewis to extend the period of voluntary base salary reduction beyond six months at his election."
The distributor reported 2019 full-year sales of $2.64 billion.