Florent Menegaux and Yves Chapot, managing partners of the Michelin Group, have chosen to reduce their pay by around 25% for the months of April and May 2020, the company says.
In addition, the members of the group’s executive committee have voluntarily decided to reduce their pay by around 10% during the same period.
These reductions will be continued as long as group employees are in partial activity due to the COVID-19 health crisis, the company says.
The chairman of the Michelin Group supervisory board, Michel Rollier, and its independent members are joining this effort by donating 25% of their attendance fees received in 2020 to foundations in their respective countries, the company says.
