ARB (ASX:ARB) reduces management and board renumeration

Company News

by Rachael Jones

Vehicle accessories company ARB (ASX:ARB) has made moves to reduce board and management renumeration.

Chairman Roger Brown, Managing Director Andrew Brown and director John Forsyth have chosen to take a 50 per cent reduction to their total remuneration excluding Andrew’s motor vehicle benefit.

All remaining directors of the Board will take a 30 per cent reduction to their director fees and senior management will take a 30 per cent reduction to their total remuneration excluding motor vehicle benefits.

These reductions to remuneration will remain in place whilst the Company trades through the current challenging economic environment due to the coronavirus.

Shares in ARB (ASX:ARB) are trading 0.22 per cent lower at $13.48.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.