SG Fleet Group (ASX:SGF) directors take 30% paycut

Company News

by Rachael Jones

SG Fleet Group’s (ASX:SGF) Board of Directors and senior executives have reduced their pay by 30 per cent in efforts to manage the impact of COVID-19.

Currently, the majority of Australian and all New Zealand staff are working from home where possible, with some staff reallocated to business areas with higher activity.

Given the tighter restrictions imposed by the UK Government, the UK business has put non-essential staff on furlough, with the remainder working from home.

The sale of ex-lease vehicles across the Group has been impacted by a temporary drop in demand for second-hand vehicles.

Shares in SG Fleet Group’s (ASX:SGF) are trading 2.7 per cent lower at $1.26.

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.