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BREAKING NEWS

Renault scraps parts of Ghosn's pay deal

Renault scraps parts of Ghosn's pay deal
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Toru Hanai(Reuters)
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PARIS (Reuters) - Renault <RENA.PA> 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.

(Reporting by Sudip Kar-Gupta, Laurence Frost and Gilles Guillaume; editing by Jason Neely)

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