The channel's director of television, Kevin Lygo has also agreed to a cut of 25% after both waived bonus entitlements for last year.
The news comes as the broadcaster confirms a third of staff will loose their jobs.
In a statement Karren Brady, chair of the board's Remuneration Committee, said: "Given the very tough market conditions, we are taking steps to significantly reduce costs, including cutting our staff numbers by a third."
All staff have already had pay frozen in 2009. Andy Duncan said: "Executives volunteering to reduce their own pay is very unusual but these are exceptional times. Both of us believe this is the responsible course of action, as we enter discussions with our suppliers about extracting greater value from our programme investment."
Andy Duncan's current basic salary is £670,000 per annum and he is also entitled to a £225,000 payment a year under a long-term incentive plan, bringing his total potential annual package to £895,000, excluding the executive bonus scheme.
Kevin Lygo's current basic salary is £772,000 and he has no long-term incentive plan, having received his last pay out under a previous plan in January 2008.
.jpg)
.jpg)