Associated British Foods To Revise Remuneration Of Executive Directors

(RTTNews) - Associated British Foods plc (ASBFY.PK, ABF.L) said George Weston, Chief Executive, and John Bason, Finance Director, have requested that their base pay be reduced temporarily by 50%. Paul Marchant, chief executive of Primark, has also requested that his base pay be reduced temporarily by 50%. Bonuses for the current fiscal year will not be paid to the executive directors, the Group stated.

The board of Associated British Foods has accepted the proposals. The board believes these steps are appropriate given its expectation that full year earnings will now be much lower than projected at the start of the fiscal year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.