Renault cancels 2019 dividend, reduces compensation for CEO and chairman by 25 percent
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.