Verallia: withdraws annual targets

(CercleFinance.com) - Given the Covid‐19 pandemic and the lack of visibility, Verallia says that it is withdrawing its 2020 financial targets that it announced on 20 February.

It will provide a detailed update when it unveils its Q1 results on 28 April.

Given its financial solidity and resilience, the glass packaging manufacturer does not intend to seek the financial support offered by the French government so that these financial measures primarily benefit the companies that need them most.

In addition, its Chairman and CEO Michel Giannuzzi has decided not to receive his 2020 variable compensation, which represents 50% of his total annual compensation. All other members of the executive committee have waived 15% of their total annual remuneration.


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