FRANCE: Renault chief to forgo bonus for aid
Renault chief Carlos Ghosn has said he would forego his bonus payment this year after the French government announced a large aid package for struggling car makers.
"All Renault's bonuses are linked to the performance of the company," Ghosn said in a radio interview.
"If the performance of the company is not at the desired level, which is the case this year, even for reasons out of the control of anyone working for Renault, there is no bonus," he said, according to Reuters, which noted he received a bonus of around US$1.82m last year.
The French government this week allocated up to EUR6m in aid for struggling automakers but has pressured managers to give up bonuses in return for the public aid funds.