"A lot of it is symbolic," Itay Goldstein, professor of finance University of Pennsylvania's Wharton School, said. "When we come into a crisis like the one we have right now — where it's a difficult time for the economy, for workers, people are losing their jobs, people don't know what to expect — I think for CEOs to come out and say, 'We are going to give up our pay,' it's a signal that they are sharing the pain."

https://www.cnn.com/2020/03/26/investing/ceo-giving-up-pay-coronavirus/index.html?