You don't see this happen too often.
John Schnatter, Papa John's International's chairman and chief executive, took a 38 percent pay cut last year, some of it at his own request so the company would have more money to raise pay for store managers and other executives.
Schnatter said he's asked Papa John's franchisees and company restaurant employees to accept his vision of working harder to make better pizzas faster when their efforts won't see sales results until later this year or even in 2005.
"I just don't think you can ask them to take a long-term approach and feel the pain when I don't feel any of the pain," he said.
This is what I like to see. High CEO salaries are justified when they perform well, but when they don't they shouldn't get to keep those huge paychecks.