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Renault scraps parts of Ghosn's pay deal

Published 02/13/2019, 08:48 AM
Updated 02/13/2019, 08:50 AM
© Reuters. FILE PHOTO: FILE PHOTO:  Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, poses after the Renault's 2015 annual results presentation at their headquarters in Boulogne-Billancourt

PARIS (Reuters) - Renault (PA:RENA) on Wednesday said it had decided to scrap certain lucrative pay arrangements for former chairman and chief executive Carlos Ghosn.

"The board unanimously decided, at its meeting of 13th February 2019, to waive Mr. Ghosn's non-compete commitment and, consequently, not to pay the corresponding compensation equal to two years fixed and variable compensation," the company said.

© Reuters. FILE PHOTO: FILE PHOTO:  Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, poses after the Renault's 2015 annual results presentation at their headquarters in Boulogne-Billancourt

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