World News

French conglomerate Bouygues’ boss cuts his 2020 pay by 25%

PARIS (Reuters) – Martin Bouygues, the boss of family-run French conglomerate Bouygues <BOUY.PA>, said on Thursday that he and his brother Olivier will cut their total compensation by 25% in 2020 in the context of the current COVID-19 pandemic.

“We’ve decided to give up a quarter of our fixed and variable compensation for the year 2020,” Martin Bouygues said during the company’s shareholders’ meeting, held remotely.

Olivier Bouygues is the group’s deputy chief executive.

(Reporting by Mathieu Rosemain; Editing by GV De Clercq)