By Tim Dams U.K. broadcaster ITV has cut the pay of its executive directors and management board by 20% and scrapped their annual bonuses in light of the coronavirus crisis.
In a statement, ITV said the cuts had been approved by its renumeration committee and were made at the request of its executive directors.
These include chief executive Carolyn McCall and group CFO Chris Kennedy. The cost saving move comes after ITV announced on 23 March a number of measures to reduce its costs and manage its cashflow in response to the COVID-19 pandemic, including shelving dividend payouts to shareholders.
Today, ITV said the annual bonus for the executive directors and management board has been canceled and there will be no cash bonus payable to
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