Brookdale Senior Living President and CEO Cindy Baier donated more than two months’ salary to the firm’s Associate Compassion Fund, the company has announced. Other members of the executive team and board of directors also have made donations from their salaries or paid time off to the fund.
Baier’s 2018 base salary was $782,248 with a targeted total compensation of $6.2 million after the addition of incentives and restricted shares, according to a U.S. Securities and Exchange Commission filing.
Baier joins a growing list of healthcare and hospital executives donating their pay to assist employees during the pandemic. Other executives, mainly in the restaurant, retail and airline industries, also have announced plans to forgo pay during the pandemic, although the move often is being done as a way to temporarily improve company cash flow.
“Every day, our dedicated associates care for tens of thousands of residents and patients across the country,” Baier said. “Today, as our team is being challenged more than ever by the COVID-19 crisis, I see them as more than just caregivers on the frontlines doing an important job. I see everyday heroes, and we needed to step up and let these heroes know how much we appreciate them.”
Last month, Brentwood, TN-based Brookdale, the country’s largest senior living company, withdrew its 2020 guidance and suspended its share repurchase program due to the uncertainty and increased expenses surrounding COVID-19.