Renault cancels 2019 dividend, reduces compensation for CEO and chairman by 25 percent
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In the current context linked to the coronavirus pandemic around the world, Renault’s Board of Directors has decided to no longer propose the distribution of a dividend at the Annual General Meeting.
All the members of Renault’s Board of Directors have decided to reduce their compensation: Jean-Dominique Senard, Chairman of the Board of Directors, is reducing his compensation by 25% for at least the second quarter of 2020 and the directors have unanimously decided to reduce by 25% the amount of their attendance fees for the 2020 financial year.
Clotilde Delbos, Chief Executive Officer of Renault for an interim period, is also reducing her compensation by 25% for at least the second quarter of 2020.
The savings will be transferred to the solidarity fund set up under the Solidarity and Future Contract concluded on April 2, 2020.