PARIS (1) – French tyre firm Michelin (MICP.PA) mentioned on Monday that its main executives had agreed to take pay cuts as a gesture of solidarity to help deal with the detrimental results of the hit to its enterprise from the COVID-19 outbreak.

Michelin mentioned its managing companions Florent Menegaux and Yves Chapot had agreed to cut back their remuneration by round 25% for the months of April and Might 2020.

Members of its Government Committee had additionally voluntarilydecided to cut back their remuneration by round 10% throughout the identical interval, added the corporate.

Reporting by Sudip Kar-Gupta; Enhancing by Kirsten Donovan

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