Renault has set 19 June, 2020 as the date for the Annual General Meeting of Shareholders initially scheduled for 24 April.
Details of the General Meeting will be specified to shareholders at a later date.
The general meeting of holders of participating shares is scheduled for 12 June, 2020.
“In the current context linked to the coronavirus pandemic around the world and in a spirit of responsibility towards all the Group’s stakeholders who are making efforts or are experiencing the effects of an unprecedented crisis, Renault’s board of directors has decided to no longer propose the distribution of a dividend at the Annual General Meeting,” said a Renault statement.
“In the same spirit, 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.”
The savings will be transferred to the solidarity fund set up under the Solidarity and Future Contract concluded on 2 April, 2020.
Clotilde Delbos, Renault CEO, for an interim period, is also reducing her compensation by 25% for at least the second quarter of 2020.