PARIS: French tyre company Michelin 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 April and May.
Members of its executive committee had also voluntarily decided to reduce their remuneration by around 10% during the same period, added the company.
