Kering top man agrees pay cut

15 April 2020

French billionaire chairman and CEO of luxury goods group Kering François-Henri Pinault has agreed to a pay cut in the latest example of top executives accepting lower salaries as a gesture of solidarity during the novel coronavirus crisis.

"Given the current context of the COVID-19 pandemic and its impact on economic activity, François-Henri Pinault, chairman and CEO of Kering, has decided to reduce the fixed portion of his salary by 25% from 1 April, until the end of 2020," announced a Kering representative.

"In addition, François-Henri Pinault and Jean-François-Palus, the group managing director, have decided to waive the entirety of the variable portions of their annual remuneration for 2020,” the company added.

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.