Carrefour (CARR.PA), Europe’s largest retailer, said on Monday it was halving its 2019 dividend to 0.23 euros per share and that CEO Alexandre Bompard would waive 25% of his fixed salary for a period of two months due to the coronavirus outbreak.
Bompard has also proposed freezing the fixed salaries of all group executive committee members for the whole of 2020, and has asked them to waive 10% of their fixed salaries for a period of two months, corresponding to the peak of the crisis, the French retailer said in a statement.
Bompard and members of Carrefour’s board of directors have also decided to reduce their directors’ fees by 25% for the current year. The money saved will be used to fund solidarity initiatives for group employees in France and abroad.
Carrefour will also hold its May 29 annual shareholders meeting behind closed doors. It will be broadcast on Carrefour’s website via the shareholders’ meeting page.