Nike's CEO Mark Parker will be taking a drastic pay cut this year to the tune of 71 percent of his income, according to CNN Money, which looked at the company's regulatory filings. That means his compensation will go from $47.6 million to $13.9 million.
To put it into perspective, in 2016, Parker claimed the No. 14 spot in the New York Times' ranking of highest paid CEOs.
The pay cut comes after a year of poor sales and a layoff of 1,000 employees in June.
CNBC Make It contacted Nike for comment, but the company could not be reached.
Nike is not the only company to have senior executives take drastic pay cuts over the years. Here are five other CEOs who've had this happen: