Jean-Dominique Senard will take a 25 percent pay cut for second quarter. Previous NextRenault says it is seeking billions in state-backed loans, cancelling its dividend for 2019 and its chairman is taking a pay cut, as the French automaker tries to weather the coronavirus crisis. Jean-Dominique Senard’s pay will be cut by 25 percent for the second quarter of 2020. The company will cancel 300 million euros (US$325 million) worth of dividends that had been intended to be paid to shareholders for last year. He said the loan amounts haven’t been fixed but could be as much as 4-5 billion euros (up to US$5.4 billion).-AP

Source: The Standard April 10, 2020 09:11 UTC