Raytheon Technologies' Board Members Take Voluntary Compensation Reduction
May 14 2020 - 6:57PM
Dow Jones News
By Stephen Nakrosis
Raytheon Technologies' Corp. said Thursday its has reduced the
compensation for non-employee board members by an amount equal to
20% of the director cash retainer.
The board's action follows a decision by Chief Executive Greg
Hayes, which will see the company institute "a temporary 10% base
pay reduction for all salaried employees across its Pratt &
Whitney and Collins Aerospace Systems businesses as well as the
company's corporate offices," Raytheon said.
The temporary pay reductions take effect June 1 and will extend
to the end of this year, Raytheon said. Previously, Mr. Hayes and
Executive Chairman Tom Kennedy volunteered to reduce their salaries
by 20% for the same period.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 14, 2020 18:42 ET (22:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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