LANXESS Issues AGM Statement; Board To Waive Substantial Share Of Pay

(RTTNews) - LANXESS (LNXSF.PK) said, for 2020, the company projects EBITDA pre exceptionals to be between 800 million euros and 900 million euros. The company plans to save 50 million euros to 100 million euros in the current fiscal year through cost discipline, and free up another 50 million euros by postponing investment projects.

The Board of Management, the Supervisory Board and LANXESS' top management have decided to waive a substantial share of their pay. For the members of the Supervisory Board, this refers directly to their remuneration, while for the members of the Board of Management and top management, to their future bonuses.

LANXESS CEO Zachert said: "We are more strongly positioned than ever before - both strategically and financially."

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