(Reuters) – FedEx Corp (FDX.N) said on Friday it would slash its chief executive officer’s pay and draw down $1.5 billion from a credit facility as delivery services take a hit from coronavirus-led lockdowns across the globe.
The company, which also suspended its financial outlook, said its board had approved a 91% reduction in CEO Frederick Smith’s base salary for six-month period from April 1 to Sept. 30.
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