Schneider: takes actions against COVID-19
(CercleFinance.com) - Schneider Electric announced this morning that it does not intend to use the exceptional financial support offered by the French state to deal with the crisis.
The group will not buy back any shares while its targets for 2020 remain suspended.
Jean-Pascal Tricoire, Schneider's Chairman and CEO, wanted to personally contribute to this essential mobilisation in the current crisis. He will therefore pay 25% of his fixed remuneration, over the duration of the crisis, into the "Tomorrow Rising Fund".
Jean-Pascal Tricoire has been joined by members of Schneider Electric's executive committee, who also agreed to pay 10% of their fixed remuneration to this fund throughout the crisis.
Schneider Electric is actively supporting hospitals and the most vulnerable communities in the face of the epidemic, and is also participating in several efforts, such as the accelerated production of ventilators, the group added.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The group will not buy back any shares while its targets for 2020 remain suspended.
Jean-Pascal Tricoire, Schneider's Chairman and CEO, wanted to personally contribute to this essential mobilisation in the current crisis. He will therefore pay 25% of his fixed remuneration, over the duration of the crisis, into the "Tomorrow Rising Fund".
Jean-Pascal Tricoire has been joined by members of Schneider Electric's executive committee, who also agreed to pay 10% of their fixed remuneration to this fund throughout the crisis.
Schneider Electric is actively supporting hospitals and the most vulnerable communities in the face of the epidemic, and is also participating in several efforts, such as the accelerated production of ventilators, the group added.
Copyright (c) 2020 CercleFinance.com. All rights reserved.