Top Michelin executives agree to pay cuts to help with COVID-19 response
Reuters
Published Apr 06, 2020 05:03
PARIS (Reuters) - French tyre company Michelin (PA:MICP) said on Monday that its leading executives had agreed to take pay cuts as a gesture of solidarity to help deal with the negative effects of the hit to its business from the COVID-19 outbreak.
Michelin said its managing partners Florent Menegaux and Yves Chapot had agreed to reduce their remuneration by around 25% for the months of April and May 2020.
Members of its Executive Committee had also voluntarilydecided to reduce their remuneration by around 10% during the same period, added the company.
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Written By: Reuters
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